UK lawmakers to consider shale gas sovereign wealth fund

London

BRITAIN's upper house of parliament is scheduled to consider plans for a sovereign wealth fund to be set up with revenues raised from shale gas, a source of energy which the government hopes will offset the decline of output from the North Sea.

As part of discussions about legislation on infrastructure, the House of Lords will debate a government plan announced over the weekend to create a fund with money raised from shale gas - once production of this gas trapped in rocks beneath the ground starts towards the end of the decade.