UK government lifts moratorium on fracking to boost oil and gas output
Fracking is a controversial method to dig for fossil fuels in which water, sand and chemicals are blasted underground to release shale oil and gas.
The United Kingdom government on 22 September lifted a moratorium on fracking aiming to boost oil and gas output after Russia's invasion of Ukraine.
Fracking is a controversial method to dig for fossil fuels in which water, sand and chemicals are blasted underground to release shale oil and gas. The UK government had halted it in 2019 citing fears that it could trigger earthquakes.
The move follows Prime Minister Liz Truss announcement earlier this month to the House of Commons about the Government’s intention to lift the ban.
ALSO READ: After crude, Centre now expedites plan to set up strategic gas reserve
To meet domestic and global need for gas, the Downing Street will now consider applications for hydraulic fracturing consent, reported the City A.M.
As per details, the projects would still require local support and before they can commence operations, developers will need to have the necessary licences, permissions and consents in place.
The recent government's decision comes amid the publication of the British Geological Survey’s scientific review into shale gas extraction that was commissioned earlier this year.
With AFP inputs.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!