British shale gas opens up

The British government said Monday tapping into the country's shale natural gas reserves could bring substantial economic and environmental benefits. Business and Energy Minister Matthew Hancock said Monday the government must act carefully as it frees up access to shale reserves.

"Unlocking shale gas in Britain has the potential to provide us with greater energy security, jobs and growth," he said in a statement. "As one of the cleanest fossil fuels, shale gas can be a key part of the UK's answer to climate change and a bridge to a much greener future."

The government announced it was opening up the bidding process for shale deposits in the country. The British Geological Survey last year estimated the Bowland shale formation in the north of the country contains 1.3 quadrillion cubic feet of natural gas.

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 picture and video: British Geological Survey