04 October 2010 11:51 [Source: ICIS news]
“The global gas balance has changed”, the energy giant’s global business environment vice president and senior scenarios executive Jeremy Bentham said.
The changed gas availability and price environment has had an impact on Shell’s energy scenarios to 2050 which suggest an era of “revolutionary change”. Those scenarios assume a period of macro volatility, regulatory uncertainty and now the possible impacts of unconventional (or shale) gas.
Bentham was a speaker at the 44th European Petrochemicals Association (EPCA) meeting and commenting at a press conference at the event.
“[Unconventional gas is] an affordable and environmentally favourable fuel,” he said. Shell believes that easily accessible conventional sources of energy will struggle to grow at the same pace as demand. It projects a three times surge in energy demand between 2000 and 2050.
Bentham does not believe that the exploitation of shale gas deposits and the changed
A recent analysis from the
“Those with confidence will invest in gas elsewhere,” he suggested.
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