UK-based multinational utility company Centrica is in its final stages of negotiations with Cuadrilla Resources to acquire stakes in the Bowland shale in the north-west of England.

The company is currently discussing with Cuadrilla and its existing shareholders, which includes Australia-based mining firm AJ Lucas and private equity firm Riverstone Holdings, reported The Guardian.

Shale operator IGas said that it holds more resources of shale gas in Britain that can meet gas consumption in the country for decades.

In January, Centrica said that shale gas will not be the game changer in UK like in North America and let down speculation about shale gas drilling.

The entry of major gas company like Centrica is expected to enhance shale sector in UK, as the sector includes relatively small companies with less operational experience.

The shale gas boom has been mainly driven by widespread use of techniques such as horizontal drilling and fracking, or hydraulic fracturing.