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British Gas owner Centrica agrees 160m Bowland shale fracking deal

2013-06-13 11:58:00| Climate Ark Climate Change & Global Warming Newsfeed

Guardian: The British Gas owner, Centrica, will invest up to 160m in shale gas exploration and development in the north-west after agreeing a deal with Britain's leading fracking company. Centrica has bought a 25% stake in the Bowland exploration licence in Lancashire from Cuadrilla Resources and AJ Lucas for 40m. It will pay a further 60m in exploration and appraisal costs. An additional 60m will be payable if Centrica subsequently decides to move into a development phase. The entrance of such...

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