Total to invest in British shale gas industry

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http://www.upi.com/Business_News/2014/01/11/Total-to-invest-in-British-shale-gas-industry/UPI-83781389465625/

LONDON, Jan. 11 (UPI) -- French energy giant Total is expected to announce Monday a major investment in British shale gas, the BBC reported Saturday.

The BBC said it had confirmed that Total would be the first major oil company to announce a commitment to the controversial method of gas extraction called fracking in Britain, where the British Geological Survey has estimated a supply of 1,300 trillion cubic feet of shale gas exist, mostly in northern England.

Total is expected to announce it will spend "tens of millions of pounds," the BBC said. The company will invest in companies that already have licenses to drill in the area.