Britain's shale gas industry could create billions of pounds worth of new opportunities in the country's supply chain. 

Research compiled by the UK Onshore Operators Group echoes the view of the Institute of Directors, which reported investment in the sector has the potential to peak at £3.7 billion during the production phase. This could see fracking support around 74,000 jobs.

However, the study warned the nation was currently lacking the skills and equipment to fully support the industry, which could threaten its development. It urged businesses to address these issues as soon as possible so they can benefit from the potentially lucrative shale gas resources. 

According to the report, it would not just be geologists and drilling specialists who would experience a surge in job vacancies. Construction workers and people involved in local retail and service industries may also witness a rise in the number of opportunities.

Meanwhile, a separate study has been carried out by the British Geological Survey to map out the UK's shale gas potential. Although the research has already been completed, the government has stated it will not release its findings until after the European elections.