How much is the US’s expertise in developing shale gas and oil worth?
$1.7bn if you are Sinochem. The Chinese state-controlled oil and chemical conglomerate on Wednesday made its first foray into the US energy sector, snapping up a 40 per cent stake in a Texas shale oil and gas development from Pioneer Natural Resources. Continue reading »
There is always a danger in using the word “inevitable”. Take the development of shale gas in central and eastern Europe.
It’s all very well KPMG describing it in such terms. Of course almost all of the countries in the region want affordable energy, but that’s not how some of the locals see it. The ‘Nimby’* contingent, aided by modern technology, are very active in the region. And politicians are taking note. Continue reading »
Bulgaria (and France) may have moratoriums on it, lawyers may make a mint on it, Gazprom chiefs may curse it, and wells may cost three times the US price to get at it – but shale gas development in central and eastern Europe is “inevitable” in the next decade.
So says KPMG in a recent report – highlighting Poland, Romania, Ukraine, and to a lesser extent, Lithuania, Hungary and Bulgaria – as the main countries set to benefit from what the professional services firm says are the “fantastic opportunities, lying beneath peoples’ feet.” Continue reading »
Even as India is on track to build up to four new terminals for imported liquid natural gas, two of the country’s biggest exploration and production firms are conducting research into using hydraulic fracturing (or “fracking”) to access shale oil and gas deposits in India’s remote northeast.
If the deposits prove viable, India may end up able to cover its steadily increasing energy demand and even become a natural gas and oil exporter. But in the face of disappointing production from the Krishna Godavari basin’s D6 field – India’s largest natural gas field – it’s as well to be cautious about shale gas and oil. Continue reading »