27th Jan 2015 08:59
LONDON (Alliance News) - IGAS Energy PLC saw its shares rise Tuesday morning, after UK lawmakers rejected an amendment to the Infrastructure Bill that would have introduced a moratorium on the exploration and development of gas from shale in Britain.
"The Bill now gives welcome clarity with respect to land access rights and trespass, and reinforces in law existing industry best practice," the company said in a statement welcoming the decision.
"In rejecting calls for a moratorium, Parliament is recognising the depth and quality of regulation that is already in place for the exploration and development of oil and gas resources onshore. Both regulators and industry have over many years worked to ensure that any risks or environmental impacts are minimal and that operators fully engage with the communities in which they operate," the onshore UK oil and gas producer added.
IGAS shares were up 2.6% at 20.00 pence early Tuesday.
By Steve McGrath; [email protected]; @stevemcgrath1
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
IGAS.L