Tuesday, 7 December 2010

Shale gas growth 'may hit regional LNG market'

Investment in the development of shale gas, a natural gas recovered through
a careful procedure involving horizontal drilling and hydraulic fracturing
in the US and Europe could hit Middle East gas markets, said an expert.

"Over the last several years, technologies for extracting unconventional
natural gas from shale formations have been implemented with greater
precisions resulting in lower costs," said Colin Chapman, president of
Euro-Petroleum Consultants' (EPC), a leading independent consultancy for
downstream oil, gas and petrochemicals industries.

"So much so that costs for these types of gas projects have been in some
cases lower than those of more conventional projects," Chapman pointed out
in the EPC analysis of the growing role of shale gas production in Europe,
North America and Asia.

Offering fresh insights into the future of global gas market, Chapman said,
'In Europe, shale and other unconventional gas resources have been
identified in France, Germany, Hungary, Italy, Netherlands, Poland, Romania,
Spain, Sweden, Switzerland and the United Kingdom.'


No comments:

Post a Comment