Total is Interested in British Shale Gas

The Daily Telegraph wrote an article on Tuesday claiming that Total is interested in UK shale prospects and has “held talks with several companies about buying a stake in their existing exploration blocks in the UK.”

Reuters have now reported that Total are not currently in any talks with other companies, but are interested in exploring options in the UK shale gas sector.

A spokesman from Total said, “Total is interested in shale gas in the United Kingdom, but we are in a phase where we are thinking about it, we are not in talks, we are awaiting the bidding rounds.

Related article: Centrica Pay £40 Million for 25% in Giant Shale Formation in the UK

There are several interesting areas for shale gas development and we continue to study carefully the potential of each to allow ourselves to be well prepared, in particular in the context of the upcoming onshore round.”

Britain’s shale gas sector is promising, but still young. Last month it received a boost as Centrica Plc, the parent company of British Gas, bought a 25% stake in a large shale formation in northern England, with plans to begin drilling next year.

Total has already invested in other shale gas exploration projects around the world, in countries such as Poland, Australia, China, Argentina, and the US.

By. Joao Peixe of Oilprice.com