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Developing the shale gas industry in the UK is “an opportunity we can’t afford to miss” according to the energy minister.
Matthew Hancock said on Thursday that developing the shale gas industry “has the potential to bolster our energy security, provide jobs, and help with carbon emissions”.
He added that, alongside ensuring the UK has a secure energy supply, developing the shale gas industry in the UK is his “top energy priority” and “in our national interest”.
“It is our duty to ensure we don’t ignore this vital energy opportunity – it is something that I feel very strongly about.
“Leaving shale gas in the ground means missing the potential for up to £10 billion economic return,” he added.
Hancock also stated that shale gas was the “greenest fossil fuel” and can “provide a bridge to a much cleaner future”.
The energy minster also stated that the three elements of the trilemma – sustainability, affordability, and security of supply – “are not equal, and need not be opposites”.
He said that the priority was ensuring the security of supply for the country “because if you can’t keep the lights on, keep the computers going and keep our homes warm – then little else matters”.
However, he added that “if you get the policies right, you can address all three at once”.
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