27 Jan 2015 07:01
27 January 2015
IGAS Energy plc ("IGas" or the "Company")
Response to Infrastructure Bill
IGas is pleased to note that Parliament has rejected an amendment to the Infrastructure Bill that would have introduced a moratorium on the exploration and development of gas from shale in Britain. In doing so, Parliament has recognised that domestic gas will form a key part of Britain's energy mix for years to come. The Bill now gives welcome clarity with respect to land access rights and trespass, and reinforces in law existing industry best practice.
In rejecting calls for a moratorium, Parliament is recognising the depth and quality of regulation that is already in place for the exploration and development of oil and gas resources onshore. Both regulators and industry have over many years worked to ensure that any risks or environmental impacts are minimal and that operators fully engage with the communities in which they operate.
IGas CEO, Andrew Austin, said:
"This is a milestone for the industry as there is now clarity and certainty in terms of regulation which enables both new and existing players to invest in shale and Britain's energy future with confidence."
ENQUIRIES
For further information please contact:
IGas Energy plc
Tel: +44 (0)20 7993 9899
Andrew Austin, Chief Executive Officer
Stephen Bowler, Chief Financial Officer
Jefferies International Limited
Tel: +44 (0)20 7029 8000
Sara Hale
Graham Hertrich
Canaccord Genuity
Tel: +44 (0)20 7523 8000
Tim Redfern
Henry Fitzgerald-O'Connor
Vigo Communications
Tel: +44 (0)20 7016 9570
Patrick D'Ancona/Chris McMahon