5 Apr 2022 14:26
5 April 2022
IGas Energy plc ("IGas" or "the Company")
Response to Government Announcement on UK shale
IGas (AIM: IGAS) welcomes the Government's support in its announcement today of a scientific review of shale gas by the British Geological Survey before the end of June 2022.
The full text of the Government's announcement can be found here: Scientific review of shale gas launched - GOV.UK (www.gov.uk)
Stephen Bowler, CEO, commented:
"This is a significant development by the Government and we welcome the opportunity to demonstrate how shale gas can provide safe, secure and affordable energy for the UK.
With Government support to rapidly accelerate the development of this strategic national resource, the IGas Board believes it can make this vital, indigenous supply of energy available to British consumers and businesses in a short timeframe.
Gas has a key role to play to ensure our future energy supply is secure, affordable and as low carbon as is economically possible. It is used to heat over 80% of homes and by over 60% of the UK's population for cooking. Whilst renewable sources of energy are increasingly producing a greater share of our electricity, gas still provides c.40%.
UK shale gas resources can replace imports, reduce prices, boost the country's tax revenues, and lead to job creation in areas where they are most needed to support the Government's levelling up agenda."
For further information please contact:
IGas Energy plc Tel: +44 (0)20 7993 9899
Stephen Bowler, Chief Executive Officer
Ann-marie Wilkinson, Director of Corporate Affairs
Investec Bank plc (NOMAD and Joint Corporate Broker) Tel: +44 (0)20 7597 5970
Sara Hale/Virginia Bull/Jeremy Ellis
Canaccord Genuity (Joint Corporate Broker) Tel: +44 (0)20 7523 8000
Henry Fitzgerald-O'Connor/James Asensio
Vigo Consulting Tel: +44 (0)20 7390 0230
Patrick d'Ancona/Finlay Thomson/Kendall Hill