Cuadrilla boss pulls punches on cost of British fracking rules
London | British shale gas explorer Cuadrilla Resources has downplayed the financial impact of strict regulations that periodically force it to suspend fracking in northern England in response to earth tremors, only weeks after CEO Francis Egan said the regulatory regime risked the project being "strangled at birth".
Cuadrilla, which is half-owned by ASX-listed Australian mining services company AJ Lucas, only began fracking at its Preston New Road site near Blackpool on October 15 but has twice had to pause operations for 18 hours, as required under stringent British rules whenever a tremor of more than 0.5 on the Richter scale is detected.
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