Response to Infrastructure Bill

RNS Number : 1895D

Igas Energy PLC

27 January 2015

 



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: [phone]

Andrew Austin, Chief Executive Officer

Stephen Bowler, Chief Financial Officer

Jefferies International Limited                                                                                   

Tel: [phone]

Sara Hale 

Graham Hertrich

Canaccord Genuity                                                                                                         

Tel: [phone]

Tim Redfern

Henry Fitzgerald-O'Connor

Vigo Communications

Tel: [phone]

Patrick D'Ancona/Chris McMahon

 

END

 

 

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