GDF Suez has become the second large energy company to target UK shale gas, buying a stake in projects owned by developer Dart Energy.
On 22 October, the French company announced it had bought a 25% share in 13 of Dart’s onshore oil and gas licences. These centre on the Bowland Shale in Lancashire – thought to be the UK’s most promising area for shale gas.
The investment cost just £7.4m. GDF has also agreed to provide £16.7m over three years to support an exploration programme. That will include drilling up to four exploration wells for shale gas and ten for coal bed methane.