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Peel Group Lease Out Fracking Sites

The property giant is checking to see whether money lies beneath their 33,000 acres

Published on January 15th 2014.


Peel Group Lease Out Fracking Sites
 

BUSINESS DESK magazine has drilled down through Peel Group’s filed accounts and extracted some interesting data. They’ve discovered the massive property holder is keen on realising the potential of shale gas - aka fracking.

Some reports state that the North West has enough shale gas to make the country gas self-sufficient for at least a decade.

Peel Group owns the estate of Manchester Ship Canal (main picture shows the High Line Bridge at Irlam over the canal) and thus controls a huge swathe of land in the North West of England - 33,000 acres. It was probably only a matter of time before we learnt of their interest in fracking. After all there’s money in them there drills.

Apparently Peel have signed agreements with exploration firm IGas to see what lies beneath. Business Desk discovered that the ‘two companies have been working together since 2010 and Peel has leased five drilling sites to the energy company’. 

Elsewhere in the North West Peel Group developed the Trafford Centre (now called the Intu Trafford Centre) and still have a large minority holding there. They also own MediaCityUK, the Lowry Outlet Mall and again, have a minority shareholding in Liverpool Airport. 

Curiously another part of their portfolio is Scout Moor Wind Farm above Rochdale. Clearly Peel don't have a problem with combining renewable energy investments with fossil fuel investments. 

Some reports state that the North West has enough shale gas to make the country gas self-sufficient for at least a decade. 

Despite the vocal nature of the Barton Moss protesters and their magnetic attraction for news gatherers, a recent poll revealed more people support fracking than oppose it.

In December 2013 a BBC North West Tonight survey found of 1,941 people, 44% of those who knew about fracking supported it, while 34% were against. More than 500 people in the poll had no idea what fracking was and just thought the pollsters were swearing at them. 

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8 comments so far, continue the conversation, write a comment.

Ian VestmentJanuary 15th 2014.

The least surprising news but shows it's time to get serious with fracking and start doing it properly.

1 Response: Reply To This...
AnonymousFebruary 18th 2014.

Good luck with your house insurance... Please check whether you're covered. People are finding out that they are not covered for any damage due to fracking.

AnonymousJanuary 15th 2014.

Peel are only a minority shareholder in LPL now.

1 Response: Reply To This...
EditorialJanuary 15th 2014.

Thanks. Changed

Poster BoyJanuary 15th 2014.

There's no 'curious' about it. Peel is 'quietly' growing a broadly based multi-source energy company. Whittaker is a brilliant visionary.

1 Response: Reply To This...
AnonymousJanuary 15th 2014.

Not curious at all because it is easy to make money from windmills and fracking. Windmills attract all sorts of grants and subsidies while fracking is profitbable in the traditional business sense.

Peter CoppingJanuary 15th 2014.

and they a complementary in climate change proposals

KenstaffJanuary 26th 2014.

PEEL are a major majority owner of British COAL lands via there 30% plus stake in COALFIELD RESOURCES www.coalfieldresources.com/…/share-price-information… GOODWEATHER HOLDINGS LTD* shares196,468,940 32.82% ( Goodweather is PEEL) They already have unfettered access and lots of joint projects with HARWORTH ESTATES ( the COAL BOARD estates compnay) now with there arrangement with IGAS , I add this is not new as its been in place since 2008, they now have access to over 60000 Acres of land for drilling, most of which is semi former industrial. *****************frompeelsite******************* Our substantial investment in Coalfield Resources and Harworth Estates (formerly known as UK Coal), Britain's biggest coal producer and owner of 17,500 hectares of land, provides a range of partnership opportunities for Peel businesses committed to sustainable energy provision. *****************Igas Telegraph***************** Since 2008 IGas has had a joint venture with Peel Holdings, a major landowner in the area. Under the deal, Peel gave IGas unlimited access to its entire land holdings for the purpose of identifying suitable sites for drilling for coal bed methane **********************************************

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