Shale Gas Espana Reports BNK’s Developments in Burgos

Shale Gas España said that the new law on hydrocarbons could translate into gains between 2 and 4 million euros for the owners of the land from where energy companies would extract shale gas.  

According to the draft document - which still has to be approved by the Spanish parliament - the owner would indeed get 1% of the revenues.

The Spanish platform for exploration and development of unconventional gas in Spain also unveiled BNK España’s progress with its shale plans in northern Spain. 

‘BNK España presented to the Administrations the projects to carry out surveys in six sites covered by its permits Urraca y Sedano, located in the north of Burgos’ reads a note released on Wednesday, adding that the projects requires the Environmental Impact Assessment (EIA). 

According to Shale Gas España, BNK España would invest up to €250 million. 

In another press release, the platform reported that unconventional hydrocarbon could be soon supported by the European Commission, as part of Brussels’ effort to trigger domestic production. 

‘Exploration and production of unconventional gas are meant to reduce this energy dependence, and effectively reduce the current costs that hinder the competitiveness of European companies.’