Europe must not let old regulations hold it back from drilling for shale gas, Prime Minister David Cameron has said.

Mr Cameron said that while companies were drilling 10,000 wells for shale gas every year in the United States, there were fewer than 100 new explorations for shale in Europe every year.

Speaking in the Commons following an EU summit in Brussels last month, Mr Cameron said shale must be extracted safely but at present there are too many regulations designed to safeguard against the extraction of other natural resources.

He said: “We put down a marker to get rid of unnecessary regulation in making the most of indigenous resources such as shale gas."

“Europe has three-quarters as much shale as the United States and yet while the Americans are drilling 10,000 wells a year, we in Europe are drilling fewer than 100.  MORE