What do Third Energy’s Troubles Mean for UK Fracking?

Source: Desmog UK

 

This was meant to be the year of fracking’s big push in the UK. But the early months of 2018 have seen the industry beset by delays and controversy yet again.

The latest obstacle came in the form of the UK government’s reluctance to give the go ahead to fracking at a well near Kirby Misperton in North Yorkshire without financial checks.

Business secretary Greg Clark decided to have Third Energy’s finances assessed before choosing whether or not to approve drilling at the site. The firm’s filing of its accounts was four months overdue before they were finally published.

The project was due to be at the vanguard of a fresh wave of fracking in the UK, which would have seen wells fracked for the first time since 2011.

So what’s the story behind Third Energy’s troubles, and what does it mean for the UK’s burgeoning fracking industry?

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