EPCA ’10: Shale gas development slower outside N America - Shell

04 October 2010 11:51  [Source: ICIS news]

BUDAPEST (ICIS)--Shale gas deposits in Asia and Europe will be developed but at a slower pace than in North America, a Shell executive said on Monday.

“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 US gas import requirement will necessarily have a negative impact on investments in the conventional gas supply infrastructure in other parts of the world.

A recent analysis from the UK based international affairs think tank Chatham House suggested otherwise.

“Those with confidence will invest in gas elsewhere,” he suggested.

To discuss issues facing the chemical industry go to ICIS connect  

By: Nigel Davis
+44 20 8652 3214

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly