"Shale Gas: Enthusiasm is Fading Away"
Who would have anticipated the shale gas revolution in the US and its impact on the world energy map only a few years ago? The question today is: what is going to happen in countries where significant shale gas reserves exist? Enthusiasm following the American shale gas momentum seems to be fading away. Though there are probably vast reserves in China, the technological capacity is missing at the moment and technology transfers will take time. In Europe, due to many factors such as geology, population density and social resistance, shale gas would come at a cost which is today too high to attract investors. In the future, the LNG revolution will make it easier and cheaper to import gas from countries with the lowest extraction costs. European countries may not be part of the game.
Patrick's presentation is available here.
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