Community benefits
UKOOG, the representative body of the onshore oil and gas industry, and of which AER is a member, have agreed with Government a package of benefits that will accrue to local communities where shale gas exploration and production takes place. In summary, these benefits amount to £100,000 for each wellsite where hydraulic fracturing for shale gas takes place and an amount equal to 1% of the revenue generated from each site during the production phase. It is estimated that this may be to up to £10 million per production site.
In addition, the Prime Minister has recently announced that local councils will be able to retain 100% of the local business rates collected from future shale gas sites, up from the usual 50%. This income is estimated at up to £1.7 million per year for a typical site.
In addition, the Prime Minister has recently announced that local councils will be able to retain 100% of the local business rates collected from future shale gas sites, up from the usual 50%. This income is estimated at up to £1.7 million per year for a typical site.
