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UK to fast-track shale projects to kickstart industry

- U.K. government releases new measures to cut waiting periods in shale project approvals

The U.K. government听released new measures Thursday, to help significantly cut waiting periods for shale projects while allowing for intervention in applications听if necessary.

"Shale gas planning applications will be fast-tracked through a new, dedicated planning process,鈥� the government announced.

Amber Rudd, the energy and climate change secretary听and听Greg Clark, the communities secretary,听revealed plans ensuring听that local people, which will potentially be affected by a project in their area, will be given greater access to detailed information on a project听while also "benefiting听from a swift process for developing safe and suitable new sites."

Communities with shale gas developments should share in the financial returns generated, the government said.

With this in mind, the government announced their intention to present proposals later in the year on the design of a new sovereign wealth fund.

鈥淭o ensure we get this industry up and running we can鈥檛 have a planning system that sees applications dragged out for months, or even years on end,"听Rudd said.

The measures also give the communities secretary the potential to step-in if听councils that repeatedly fail to determine oil and gas applications within the 16-week听timeframe,听are听identified.

鈥淣o one benefits from uncertainty caused by delays in planning decisions,"听Clark said and added, "by fast-tracking any appropriate applications, today鈥檚 changes will tackle potential hold ups in the system.鈥�

By Zeynep Beyza Karabay

Anadolu Agency

zeynep.karabay@aa.com.tr