Guardian: The British Gas owner, Centrica, will invest up to 160m in shale gas exploration and development in the north-west after agreeing a deal with Britain's leading fracking company.
Centrica has bought a 25% stake in the Bowland exploration licence in Lancashire from Cuadrilla Resources and AJ Lucas for 40m. It will pay a further 60m in exploration and appraisal costs.
An additional 60m will be payable if Centrica subsequently decides to move into a development phase.
The entrance of such...