British Prime Minister David Cameron has urged the communities in the UK to endorse shale gas extraction projects near their homes to drive benefits of cheaper gas prices and employment generation.

He said that the expansion of shale gas extraction projects will help in bringing down the price of fuel for the consumers and create more than 70,000 jobs. He also said that there is a need to brish aside the myths relating to the shale gas extraction technique claiming they are not unsafe and there isnot evidence of damages to the countryside.

"It's been suggested in recent weeks that we want fracking to be confined to certain parts of Britain. This is wrong. I want all parts of our nation to share in the benefits: north or south, Conservative or Labour," Mr Cameron said while responding to comments from Lord Howell that the projects can be limited to the northern areas.

Communities will receive at least £100,000 for each well where fracking takes place for the extraction. The estimates have shown that more than 1,300trillion cubic feet of shale gas might be stored under the North of England alone. Experts said that if only 10 per cent of the gas is recovered, then it will be enough to provide power to the UK for a period of five decades.

The UK Treasury could rake in as much as £80billion windfall form the Shale gas fracking projects in the country. The Prime Minister has said that the gas from shale gas extraction has helped bring a boom in production the US and resulted in a fall in process. He said that the same could be possible in the UK.