IGas Energy gets OK for Nottinghamshire shale gas exploration

(ShareCast News) - Shale gas developer IGas Energy has been granted planning consent by Nottinghamshire County Council to drill two exploratory wells in Misson Springs, North Nottinghamshire.Chief executive officer Stephen Bowler said: "We are at a critical juncture in the future of our energy mix and supply, as we move away from coal towards lower carbon energy sources. We rely significantly on gas in the UK, not just for electricity, but also in heating eight out of 10 homes and as a raw material in the manufacture of many everyday products, including plastics and clothing. "We believe the future of the area is as important as its rich history and, with the demise of coal mining in the area, see an important role for shale development in the creation of future jobs and prosperity."Councillors voted seven to four in favour of the planning application and although fracking is not part of the company's proposals, it could take pace if IGas finds shale gas.IGas will have to make another planning application if it does decide it wants to use hydraulic fracturing to recover shale gas at the site.Industry body United Kingdom Onshore Oil and Gas welcomed the council's decision.Chief executive Ken Cronin said: "This follows the successful applications for onshore oil and gas developments in North Yorkshire and Lancashire and shows positive momentum towards finding out what natural gas resources we have beneath our feet that can be developed for the good of the whole of the UK. 84% of our homes use gas for heating and by 2035 four fifths of that gas will come from outside the UK - that is why this is important."At 1550 GMT, IGas shares were up 8.7% to 12.50p.