Creating a shale gas hub could boost the UK economy by £30 billion.
A new study claims developing the hub in Bowland, Lancashire could also create 13,000 new jobs – more than double the amount than without the shale gas supply hub.
The figures are based on 100 well pad sites in the Bowland Shale, covering the Midlands and North of England, according to the research commissioned by Peel Gas & Oil.
It also claims the Ocean Gateway area, stretching from the port of Liverpool to Manchester, could become a UK and international “centre of excellence.”
Myles Kitcher, Peel Gas & Oil’s Managing Director, said: “Creating a prosperous supply chain to service the Bowland Shale could be transformational in driving the Northern Powerhouse economies.
“The findings of this report demonstrate the huge benefits that are on offer but we need to act quickly or we risk losing out to other countries who are already active in the sector.”