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<p>Seven thousand three hundred square miles of Great Britain are currently under licence, including significant areas likely to contain shale. We expect substantial developer interest in the 14th licence round, planned for next year.</p><p>We have done the following to encourage shale gas exploration and development:</p><p>In the autumn statement, the Chancellor announced support to encourage investment in onshore oil and gas, including shale gas, by halving the tax rate on early profits.</p><p>The Department for Communities and Local Government has published planning guidance that clarifies the interaction of the planning process with the environmental and safety consenting regimes. This should accelerate the planning process.</p><p>The Environment Agency (EA) has announced it will streamline and simplify the regulation of exploratory activity, while maintaining environmental protection.</p><p>The Government has welcomed a package of community benefits brought forward by industry. These will include £100,000 for communities near each hydraulically fractured exploratory well, and 1% of revenues from every production site.</p> |