Germany is set to lift its ban on fracking as early as next year, after caving in to business demands that it should reduce its dependency on Russian energy and boost competitiveness with US manufacturers. Applications to carry out the controversial process for extracting the country’s estimated 2.3tn cubic metres shale gas reserves will be subject to an environmental impact assessment under new legislation to be discussed by the cabinet before the summer recess. …
Details of the new regulations emerged in a letter from Sigmar Gabriel, German economy minister, to the head of the Bundestag’s budget committee. In the letter, Mr Gabriel wrote that permission to carry out fracking would be subject to approval from regional water authorities and that “further requirements for the fracking permit process are still being considered”. …
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.