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Total invests in UK shale gas

来源: ChemChina Petrochemical
时间:2014-01-13

France’s Total is acquiring a 40-percent stake of two of the UK’s shale gas energy projects as the first major oil company to invest in the UK’s nontraditional natural gas reserves, according to the Wall Street Journal. Although there were no details about the investment, insiders estimate it at $50-million. The investment might seem somewhat insignificant in the global scheme of things. Total’s investment decision resembles a vote of confidence in the UK, which will give the British government a shot in the arm, especially since it seeks to attract big companies to develop shale energy. With its annual investment of about $2 billion, Total is expected to become the UK's biggest gas producer, by 2015.

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