Rigzone: UK Chancellor Restates Support for Shale Gas at Offshore Europe

UK Chancellor of the Exchequer George Osborne used a speech at the Offshore Europe 2013 conference in Aberdeen Tuesday to reiterate the UK government’s support for the development of unconventional oil and gas resources in the UK.

Speaking at the show’s opening plenary session, Osborne acknowledged the UK public's concerns about the safety of shale fracking but insisted that the country would suffer competitively if it did not look to develop shale gas and oil resources.

"Of course we want exploration of our shale resources to be safe, to avoid environmental damage and to be done in a way where communities get the benefit of what's happening in their backyard. And that is why we got the industry to commit to generous community benefits," said Osborne, referring to a scheme announced in mid-July to ensure that local communities receive at least $150,000 of benefits from operators for every fracked well site.  MORE