Giant gasfield bid in south of France

ENERGY giant Total says it is exploring a site in the south of France that could have vast resources of natural gas and is looking for partners to help develop it.

The site, which stretches from Valence to Montpellier, has the potential to provide about 21 times France’s annual gas consumption.

Total said it would offer a partner up to 50 per cent of the exploitation of the shale gas find, which covers 4,300sq.km and could contain 2,380 billion cubic metres of natural gas, of which 950bn cu.m is available at current recovery rates.

It said that the proximity of local gas production infrastructure in the south of France would allow for “rapid development and easy revenue generation”.

However, the company has played down the potential of the site. Exploration director Yves-Louis Darricarrère told Les Echoes that the figures were based on a revision of data that was about 40 years old.