New Source of Gas off the Coast of Greenland

By : | September 1, 2010 | World Political News

Cairn Energy, a Scottish based company, has confirmed reports of finding gas off the coast of Greenland. This suggests discovery of oil could be the next in line, sparking concerns from environmental campaigners fearing a repeat of the Gulf of Mexico oil spill disaster.

The company chief executive Bill Gammell believes in the potential of the find but has not yet confirmed the amount of gas resource discovered. The environmental campaigner Greenpeace has warned that the gas discovery could ‘threaten the fragile environment’ in that area.

This is the first time that a gas resource has been found in the Arctic and environmentalists are concerned that the place could become a thriving medium for the future exploits of oil companies.

Cairn Energy is currently drilling two wells and plans to begin with two more before the end of October. Discovery and utilization of oil and gas here could be a potent risk for the existing natural habitat.