The subject of 'energy security' is never far from the headlines. The combination of international tensions and rising fuel prices in the UK has kept this topic close to the top of the political agenda. The newest potential source of UK based energy is shale gas. This is gas which is trapped in shale rock many meters below the ground. The controversial process to obtain shale gas is known as hydraulic fracturing or 'fracking'.
Planning applications are due to be submitted for two fracking sites in Lancashire. If they are approved, it is possible that the shale gas produced could start fuelling British homes by late 2015. Although the sites would be expected to yield small amounts of shale gas, industry analysts believe the site could be an important first for the production of shale gas in the UK.
The Queen's Speech introduced the government's new infrastructure bill which supports further consultation on shale gas. The consultation's proposals would allow energy companies to frack for shale gas 300m below the surface without getting the landowner's permission.
A concern for property owners in areas where fracking might be carried out is the possible impact on the value of their property. When acting for someone buying a property, the conveyancing solicitor will carry out a number of searches and enquiries. These are designed to find out information which might affect a buyer's decision as to whether or not to proceed with their purchase. At the moment, there is no standard search for fracking sites.
If you are concerned about the potential impact of fracking on your home or the property that you want to buy contact us.
For information about fracking, go to: News