Jones, Peter and Comfort, Daphne and Hillier, David (2014) Fracking for shale gas in the UK: property and investment issues. Journal of Property Investment and Finance, 32 (5). pp. 505-517. ISSN 1463-578XFull text not available from this repository.
Purpose – Large-scale shale gas reserves have recently been identified under many parts of the UK. Development pressure for detailed exploration and possibly the exploitation of these reserves by hydraulic fracturing, popularly described as fracking is growing rapidly and seems to have UK Government support. With this in mind the purpose of this paper is to offer a general review of the possible development of shale gas reserves by fracking within the UK and to explore a number of the property and investment issues associated with such development. The briefing note begins with an outline of the characteristics of shale oil and the fracking process and of the initial developments within the UK and discusses some of the property and investment issues associated with such developments. The note is based upon information drawn from the internet sources, principally national and local governments, property, financial and environmental organisations and on visits to a small number of sites of exploratory fracking. The paper identifies a wide range of potential environmental impacts associated with the development of shale gas reserves by fracking and reveals growing awareness in the UK that such development could have a major impact on property values, on the availability of mortgages and on property insurance. At the same time the paper also suggests that financial institutions are increasingly taking steps to minimise risks to their investments and reputation from potential environmental impacts. The paper suggests a number of issues property managers and consultants will need to address in monitoring the impact of shale gas development by fracking on property values and it offers some guidelines to investment managers. This paper provides an accessible review of the development of shale gas resources by fracking within the UK and as such it will be of value to a range of property and investment management professionals and to students pursuing property and investment courses.
|Additional Information:||This article is © Emerald Group Publishing and permission has been granted for this version to appear here http://dx.doi.org/10.1108/JPIF-04-2014-0022. Emerald does not grant permission for this article to be further copied/distributed or hosted elsewhere without the express permission from Emerald Group Publishing Limited.|
|Uncontrolled Keywords:||Environmental impacts, disclosure, investments, hydraulic fracturing (fracking), shale gas resources, property values|
|Subjects:||H Social Sciences > HD Industries. Land use. Labor|
|Divisions:||Faculty of Business, Computing and Applied Sciences > Business School > Business and Human Resource Management|
|Research Priority Areas:||Applied Business Research|
|Depositing User:||Susan Turner|
|Date Deposited:||20 Feb 2015 16:59|
|Last Modified:||27 Oct 2016 14:27|