• Natural Gas News

    Third Energy Satisfies UK Govt on Fracking


The UK explorer has filed its accounts but still has to complete a financial review for the government.

by: William Powell

Posted in:

Natural Gas & LNG News, Europe, Corporate, Exploration & Production, Environment, Regulation, News By Country, United Kingdom

Third Energy Satisfies UK Govt on Fracking

UK explorer Third Energy has filed its financial records with the government and is now working with the Oil & Gas Authority and the Infrastructure & Projects Authority to progress with the hydraulic fracturing at its Kirby Misperton site in northern England, it told NGW in a statement. But it still needs to complete one more step.

"Third Energy is fully committed to its operations at Kirby Misperton. After almost four years of planning and preparation, we are delighted that the secretary of state is satisfied that Third Energy has met all of the 13 technical requirements set out in section 4A of the Petroleum Act 1998. We now work to complete the financial resilience review and achieving hydraulic fracturing consent from the secretary of state.”

Third Energy has been hoping to frack in Kirby Misperton, in North Yorkshire, since May 2016 when its application was granted approval by the county council, a decision that was challenged and cleared the final judicial hurdle in December 2016 when the English High Court upheld a local authority approval of its fracking permit. Third Energy was owned by Barclays bank-owned Barclays Natural Resource Investments business. BNRI, including Third Energy, was spun off in 2015 as a management buyout into Global Natural Resource Investments (GNRI), also linked to Dutch offshore gas field developer Tulip Oil

Earlier this week, the government gave Cuadrilla final approval to begin fracking at its Preston New Road shale gas site in northwest England, but insisted that a £0.557 mn payment be made into an escrow account first, so that any decommissioning or other liability costs that may arise are covered.