• Caught in the debt trap?

    Help us help you by taking our second annual Debt survey and you could win R3 000.

  • Rich man, poor man

    Culture change from below is the only way to overcome poverty, says Leopold Scholtz.

  • Tech bubble talk

    After the tech euphoria of 2013, the fast-moving sector has hit a speed bump.

Data provided by McGregor BFA
All data is delayed
Loading...
See More

Shell all set to spend R1.6bn on fracking

Jul 19 2012 12:05

Related Articles

Shell wants to get juniors on its side

Fracking 'will cause water pollution'

SKA success may threaten fracking plans

Gas fracking sparks scare in rural US

Fracking gets green light from UK panel

Opec: Shale gas no threat to us

 

Johannesburg -  Shell has indicated it is likely to spend about R1.6bn on the exploration of shale gas in the Karoo as cabinet looks set to give the green light to the removal of the fracking moratorium, according to an article in Business Report.

Shell SA general manager Jan Willem Eggink reportedly told the Cape Chamber of Commerce and Industry that the company would spend R1.6bn should cabinet give the go-ahead.

But cabinet spokesperson Jimmy Manyi said a report by the department of mineral resources had not been discussed by the cabinet on Tuesday.

Energy Minister Dipuo Peters has repeatedly voiced support for fracking. Last month, Peters said concerns about fracking needed to be overcome through research and technology.

"We cannot allow a blessing to lie fallow... If shale gas is one of the blessings, we are going to go for it," Peters said.

Cape Town Chamber of Commerce president Michael Bagraim said in the report that the government needed to allow for more time to consider the pros and cons of fracking.

“We don’t want to get into the green versus the big business debate,” Bagraim said.

Fracking involves pumping a mixture of water, sand and chemicals at high pressure down a borehole into the rock strata containing the shale gas.

The process releases the gas, which flows out of the borehole to the surface, where it is captured.

 
shell  |  karoo  |  fracking

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
37 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

Ramphele: ANC can be defeated

The African National Congress can be defeated, Agang SA leader Mamphela Ramphele has told supporters in Temba near Hammanskraal.

 
 

Latest elections multimedia

Watch what happened when we blindfolded Helen Zille and asked her to eat random things
13 days to elections - news you need to know
11 Julius Malema quotes you'll never forget
DA won't get 30% - Zille

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...