Shale offers a huge opportunity for county

As the Hot 100 list shows, Lancashire has some truly amazing companies that are doing incredibly well. In the future, many more could be joining them thanks to shale gas.

Lee Petts Lancashire for Shale

By Lee Petts, chairman, Lancashire for Shale

EY predicted that, nationally, the sector could one day be responsible for over 64,500 jobs and a supply chain spend of more than £33bn, assuming that 100 shale gas production ‘pads’ are developed, but what might it look like here in Lancashire?

Based on where shale gas deposits across the UK occur, and dividing-up the estimates according to licensed acreage, it’s possible to imagine a scenario in which Lancashire could eventually see between 15 and 20 shale gas pads being built.

Based on those EY forecasts, it would lead to between 5,900 and 7,800 indirect jobs in the supply chain, between 2,800 and 3,800 induced jobs in the wider economy, and local spend of between £4.9bn and £6.6bn. That’s a huge opportunity for Lancashire people and businesses.

To really make the most of it, Lancastrian firms need to get on with forming a shale gas cluster of expertise, much like they have in support of the region’s aerospace sector.

For context, BAE Systems at Warton and Salmesbury - one of Lancashire’s largest employers - was responsible for 1,200 indirect and a further 3,100 induced jobs in 2016, putting a Lancashire shale gas industry on course for one day making an even more significant contribution to the local economy. So that’s my call to action: join us at Lancashire For Shale to learn more about the future prospects of Lancashire’s shale gas industry and to be part of making it a success.