Abstract
According to the 2011 International Energy Agency data, 60 % of natural gas production in the US comes from unconventional sources. Currently in Europe the commercial production of shale gas has not yet been developed. However, the European Commission estimates that conventional production in those countries which have already made some progress could already start as early as 2015. The 2013 A.T. Kearney report outlines that European resources constitute 7 % of world resources, but the success of shale gas exploration in Europe will depend on a series of economic, political and geographical factors. This paper analyses the potential impact of the development of the shale gas industry in Europe, particularly recoverable potential of shale gas, its impact on the economy, overall EU energy mix, energy prices and the European job market. In addition, the paper briefly discusses the potential impact of shale gas extraction on gas imports and security of supply.
Highlights
Distribution of unconventional gas in Europe e distribution of unconventional gas resources in Europe is uneven
According to the IHS Cambridge Energy Research Associates (IHS CERA) report ‘Gas from Shale – Potential outside North America?’, the biggest basins of recoverable shale gas resources are located in Germany and the Netherlands followed by the northern German-Polish, French and the Anglo-Dutch basins, which are in line with the geographical estimations[2]
There have been several attempts to estimate resources, including attempts made by the IEA, the Energy Information Administration (EIA), IHS CERA, Wood Mackenzie, Cedigas and scholars
Summary
Distribution of unconventional gas in Europe e distribution of unconventional gas resources in Europe is uneven. According to the IHS Cambridge Energy Research Associates (IHS CERA) report ‘Gas from Shale – Potential outside North America?’, the biggest basins of recoverable shale gas resources are located in Germany and the Netherlands followed by the northern German-Polish, French and the Anglo-Dutch basins, which are in line with the geographical estimations[2]. Resource estimations ere is a degree of uncertainty regarding the amount of recoverable shale gas resources in Europe, as di erent methodologies have been applied to measure it. Lack of precise data about the availability of unconventional gas in Europe is one of the main challenges for European operators. Rogner’s work was one of the rst comprehensive estimations of shale gas resources worldwide and the best international study available at the time; his methodology is not perfect. While all available data was used in the study, the remaining gaps were lled with estimates[5]
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