Europe Shale Gas: As Big As North America

CCNet  - 10 March 2011

The Climate Policy Network

Europe Shale Gas: As Big As North America

The size of European unconventional commercial gas reserves rival that of North America, according to a major new study by IHS Cambridge Energy Research Associates (IHS CERA). The study, Breaking with Convention: Prospects for European Unconventional Gas estimates Europe’s total unconventional gas in place could be 173 trillion cubic meters (Tcm), or 6,115 trillion cubic feet (Tcf). --IHC Cambridge Energy Research Associates,  9 March 2011

We need a few confirmed figures from actual producers. Don't worry the figures are coming as I've been saying for two years, and CERA now intimates. Once we do, it's goodbye to spending money on crazy things we have been told to save up for: Coal Carbon Capture and Storage, Off-shore Wind, Nuclear and pipelines like Nabucco. All this £200 BN to keep the lights on rubbish is consigned to the rubbish bin of history. -- Nick Grealy, No Hot Air, 10 March 2011

The technological revolution in unconventional gas has been the single most important energy innovation so far this century. Its tremendous potential has already transformed North America’s energy landscape and may now transform the global gas industry. -- Daniel Yergin, Pulitzer-Prize winner, 9 March 2011

A global gas glut has unhinged the natural gas and crude oil price and according to Deutsche Bank Research, new US gas deposits are calling into question nearly all medium and long-term scenarios which still seemed plausible a few years ago. As a result of the huge deposits, new strategies for the use of excess supply are currently being discussed in the US and if gas exports were possible, this would be another great challenge for all de facto price links to the oil price that are still in place in Europe, and possibly even the final nail in the coffin. FinFacts News, 2 March 2011

As a result of the shale gas revolution, North America has enough recoverable gas to meet current levels of use for more than 100 years.-- Energy Vision 2011: A New Era for Gas

1) Europe Shale Gas: As Big As North America - No Hot Air, 10 March 2011

2) The Unconventional Oil Boom - CNN Money, 9 March 2011

3) Global natural gas markets are changing, report says - PowerGen, 9 March 2011

4) Global gas glut unhinges natural gas and crude oil prices - FinFacts News, 2 March 2011

5) The Shift From Oil to Natural Gas Seems to Be Gaining Momentum - Seeking Alpha, 23 February 2011

6) And Finally: China's Coal Reserves 'Will Make It New Middle East', Says Energy Chief -The Guardian, 8 March 2011