Total eyes investing in British shale gas

Total eyes investing in British shale gas

PARIS - Agence France-Presse
French energy giant Total is interested in exploring for shale gas in Britain and might take part in bidding for exploration rights, the company said on June 26.

“Total is interested in shale gas fields in the United Kingdom and is studying where we would be best-positioned if this eventually meets our criteria,” the company said in a statement sent to AFP.

“There are several interesting areas to exploit shale gas and we are continuing to carefully study the potential of each of them in order to be well-prepared, especially for the tenders to come,” it said.

Total, one of the world’s leading energy producers, declined to provide further details.

Britain’s Daily Telegraph newspaper reported on Tuesday that Total was considering bidding for shale gas exploration rights in Britain and had held talks with several companies about buying stakes in existing British exploration blocks.

Earlier this month, British energy company Centrica become the first energy major to move into Britain’s shale sector, agreeing to purchase a 25-percent stake in a shale gas exploration area.

Energy companies are banned from exploiting shale gas in France over fears of risks for the environment from the potential air and water pollution involved in the fracking process used to extract it.