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ARTICLE · 09 APRIL 2013

Energy Update - 27 March 2013

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In the Budget the Chancellor announced that shale gas was "part of the future" and that the Government "will make it happen".

United KingdomEnergy and Natural Resources
David Wilkinson
David Wilkinson

The Enthusisasm for Shale Gas continues to grow

The Chancellor has certainly caught the shale bug.  In the Budget he announced that shale gas was "part of the future” and that the Government “will make it happen”.

As trailed back in the 2012 Autumn Statement, the Government will consult over the course of the year on measures to promote investment in the exploration and production of shale gas.   The consultation will include proposals for a new shale gas field tax allowance (to reduce the effective tax rate on shale gas production) and the extension of the Ring Fence Expenditure Supplement from 6 to 10 years.  The plan is to consult over this summer and to implement legislation as part of Finance Bill 2014.

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