Shale gas bonanza?

Ben wallace MP
Ben wallace MP

Wyre and Preston North MP Ben Wallace has met with senior Treasury officials to discuss the creation of a community fund should shale gas exploration go ahead in the area.

The latest meeting follows on from an earlier one Mr Wallace had with the lead shale gas official at the Department of Energy when he discussed likely outcomes of the current test drilling in North and Mid Lancashire.

Commenting after the latest meeting Mr Wallace said: “There has been much talk about the hundreds of billions of pounds worth of gas under Lancashire and I am keen that if fracking goes ahead that the county gets a good deal.

“There are potentially billions of pounds at stake for the county and I want to ensure my constituents directly benefit from any future cash.

“Shale gas exploration could unlock a total regeneration of the county and I am determined to ensure the revenues don’t disappear into the Treasury.”

Mr Wallace went on to add “The Chancellor in an earlier meeting has agreed that the area should directly benefit and I am working to put the meat on to the bones of this commitment.”