There are likely to be deposits of shale gas under Manx waters – but extracting it could be challenging and expensive.
In Tynwald this week, Michael MHK Alfred Cannan quizzed Economic Development Minister John Shimmin over what research is being carried out into shale gas resources.
Extraction of shale gas in the UK using a process called ‘fracking’, in which rocks containing natural gas are blasted with water and sand, has proved controversial. Test drilling was suspended for a time after it triggered earth tremors in the Blackpool area.
British Gas owner Centrica has bought a 25 per cent stake in an exploration licence for the Bowland basin in Lancashire. The Bowland shale deposit stretches to the Isle of Man and is believed to contain 200 trillion cubic feet of gas.
Mr Shimmin told Tynwald he was convinced there were deposits of shale gas around the island but the first possible exploitation of this would not before 2020.
He said: ‘Although technically feasible, any offshore developments in Isle of Man territorial waters would be more challenging and expensive. The government will consider all projects that can be economically viable.’