Two directors of gas firm quit due to North Yorkshire fracking delays

Two of directors of gas firm Third Energy have resigned as the company’s fracking project in North Yorkshire remains delayed.

Chairman Keith Cochrane, the former interim chief executive of Carillion, and Jitesh Kishorekumar Gadhia, Baron Gadhia of Northwood, quit because of the company’s reportedly “low levels of activity”.

Third Energy has been waiting to receive approval from the government to frack for shale gas at a site near Kirkby Misperton since late last year.

The fracking project was once again postponed until this autumn, but now it appears no fracking is expected to take place on the site in 2018.

Both Cochrone and Gadhia were appointed at Third Energy in September 2017, but after a year of little progress they decided to leave on 12 September, as confirmed on Companies House.

“As the hydraulic fracturing programme and further development is currently delayed, with resulting low levels of activity, the company has accepted the directors’ resignations,” a spokesperson said, as reported in The Guardian.

Anti-fracking group Kirby Misperton Protection Community tweeted: “Two Third Energy directors RESIGN as accounts deadline looms! These cowboys once said they’d be fracking by LAST Christmas!

“It’s been a YEAR since their HGVs hit Main Street, Kirby Misperton and they still haven’t achieved ANYTHING! Except a whole bunch of organised opposition!”

Cochrane has been a non-executive director of the failed construction company, Carillion, since 2015. Gadhia is an investment banker and a member of the House of Lords. He previously held senior positions at Blackstone, Barclays Capital, ABN Amro and Barings brothers.

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