Russia May Stop Dominating Gas Market, Says GBI Research20 Nov 2012 • by Natalie Aster
Recent shale gas explorations in Europe have proved highly promising, and with the US already sitting on a number of vast plays, may lead to the end of Russia’s gas export dominance.
According to the report, "Shale Gas Market Prospects in Europe - Poland Set to Lead Regional Development Backed by Government Support to Domestic as well as International Players for Fracking" by GBI Research, shale prospects in Europe may well reshape the continent’s energy market dynamics by eahttps://marketpublishers.com/report/energy/alternative_energy/shale-gas-market-prospects-in-europe-poland-set-to-lead-regional-development-backed-by-government-support-to-domestic-as-well-as-international.htmlsing reliance on Russian natural gas imports.
Shale Gas Market Prospects in Europe - Poland Set to Lead Regional Development Backed by Government Support to Domestic as well as International Players for Fracking
Published: November, 2012
Price: US$ 3.500,00
The International Energy Agency (IEA) stated that unconventional gas reserves in Europe, including tight gas, shale gas and Coal Bed Methane (CBM), are estimated to be around 3,500 trillion cubic feet (tcf). If these reserves were commercially exploited they would produce more than enough to sustain the continent’s gas demand for the next 60 years. However, Russia provided around a third of the 16.5 trillion cubic feet (tcf) of natural gas imported by Europe last year alone, and so a move towards self-sustainability could prove highly damaging to this Eastern European nation’s hydrocarbon export sector.
In addition, shale play exploitation is expected to not only provide the US with enough gas to meet domestic demand, but place the country in a healthy position to export gas to the lucrative Asian market – and at a lower price than its rival Russia. It may not be time for Russia to panic just yet, though. Europe faces a number of challenges on the road to reaching its shale gas potential, including geological, environmental and political issues that will take time and the implementation of specific EU regulatory directives to address.
More information can be found in the report “Shale Gas Market Prospects in Europe - Poland Set to Lead Regional Development Backed by Government Support to Domestic as well as International Players for Fracking” by GBI Research.
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