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U.K. Shale Could Spark $55 Billion in Investment, E&Y Says

U.K. shale-gas production has the potential to boost local demand for supplies from rigs to steel casings and waste-water management, according to an Ernst & Young LLP report commissioned by an industry lobby.

About 33 billion pounds ($55 billion) would have to be spent to bring 4,000 wells into production by 2032, according to the report, commissioned by the U.K. Onshore Operators Group, or UKOOG. That would create 64,500 jobs, it said.