Barclays to Sell Fracking Company, Says Decision Does Not Change Stance on Shale Gas

Source: Desmog UK


Campaigners are celebrating Barclays’ announcement that it will sell its stake in fracking company Third Energy “in due course”. But the company said its overall stance on fracking has not changed.

A Barclays subsidiary owns 97 percent stake of the small Yorkshire company, which has a license to frack just south of the North York Moors national park.

At the bank’s annual general meeting last week, its chairman John McFarlane said Barclays was set to sell its stake in Third Energy. Environmental campaign group People and Planet called the decision a “huge victory”.