FT: UK shale Eldorado – just off the M62

The wedge of land squeezed between the M56 and M62 in north-west England could be Britain’s new oil and gas Eldorado.

So says IGas, one of the UK’s leading shale explorers, which has vastly increased its estimate of the amount of gas it could be sitting on in the area.

The UK’s hopes of a US-style shale gas boom were boosted on Monday when IGas said its licence area in the north west of England could contain between 15 and 172tn cubic feet – up from 9 tcf in its previous assessment.  MORE