The UK Government has recently published further details on a package of tax, planning and community benefits to help kick-start shale gas exploration in the UK. These measures will be welcomed by those in (or looking to enter) the industry, since they are generally favourable and increase the levels of clarity and certainty - pre-requisites for an industry which relies on long-term investment.
The relevant documents published last week are a Government consultation regarding a specific tax regime for shale gas, and guidelines to local authorities for considering planning requests for onshore oil and gas exploration and extraction.
These measures have followed soon after studies showing that the UK's shale gas resources are much larger than previously anticipated (as covered in a previous alert), and can be seen as the "next step" in developing a thriving shale gas industry in the UK.
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