US shale drawing interest from companies all over the world

01 November 2011 21:23  [Source: ICIS news]

HOUSTON (ICIS)--The US shale boom has attracted interest from companies all over the world looking to learn the technology for extracting shale gas to take back to their countries, a consultant said on Tuesday.

“This is going to create a new world dynamic as sources of [shale natural gas] are found in countries around the world,” said Deloitte consultant Gary Adams at the World Energy Council's Houston Business Forum.

“Companies are investing in technologies so they can develop shale in their own countries,” he said.

For example, the production rate in the Middle East is projected to triple in the next two decades. Asia/Australia is the next fastest growing region for production, according to Deloitte.

"Growing global gas demand and resulting world gas prices may encourage countries with significant stranded gas supplies to monetise their resources via LNG [liquefied natural gas]," Deloitte said.

"In addition, political and social factors that have historically prevented development of supplies from some countries, such as Iran and Venezuela, are assumed to eventually diminish over time and allow these countries to develop supplies for export."

By: Bobbie Clark
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