Is European shale a game-changer for the gas markets?
A rocky future?
With the ‘shale gale’ in the US changing the outlook for US natural gas markets, lowering prices and strengthening energy supply security, anticipation of a similar revolution in Europe has been high.
Estimates by the US Energy Information Administration (EIA) indicate Europe has 639 trillion cubic feet (Tcf) of technically recoverable shale gas resources, over three times its proved conventional natural gas reserves of 186Tcf. This also puts it in a similar category to the US, which has 862Tcf
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