Shale Gas Has ‘Great Potential’ for U.K., Energy Minister Says

Britain has “great potential” to develop shale gas fields once the governemnt gets the right regulations in place for the industry, the nation’s energy minister said.

John Hayes, who was named to his post last month, said, “Once we’ve got the safety and security right, the regulations right, shale gas has great potential for Britain.” He spoke in an interview with Bloomberg Television in London today.

“This is innovative. We have to do this in a way that’s cautious and careful,” he said.

To contact the reporter on this story: Alex Morales in London at amorales2@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net