Promises and Pitfalls of the North American Shale-Gas Revolution: Global Implications and Lessons for Europe

In the US, the share of shale gas in the total production of natural gas rose from just 1.6% in 1996, to 16% in 2009 -- a tenfold increase. As a result, and as reported by the US Energy Information Administration, in 2010 shale gas delivered one-quarter of the total US domestic production and is set...

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Bibliographic Details
Published in:The Polish quarterly of international affairs 2011-07, Vol.20 (3), p.95
Main Author: Wisniewski, Bartosz
Format: Article
Language:English
Subjects:
Drilling
Estimates
Gas industry
Global economy
Liquefied natural gas
Natural gas
Natural gas reserves
Natural gas supply
Oil reserves
Oil shale
Pipelines
Prices
Recessions
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Summary:In the US, the share of shale gas in the total production of natural gas rose from just 1.6% in 1996, to 16% in 2009 -- a tenfold increase. As a result, and as reported by the US Energy Information Administration, in 2010 shale gas delivered one-quarter of the total US domestic production and is set to reach as much as 46% in 2035, making it the most important and the most dynamic source of natural gas. High gas prices on the North American market in the period between 2005 and 2008, or directly before the outbreak of the economic crisis, turned out to be a good enough incentive for bigger companies to "give shale a chance" and to make a real difference. When coupled with the near-simultaneous launching of new Liquefied Natural Gas, delivery capacity and a drop in demand for natural gas once the global recession kicked in, instead of worrying about a shortage of supplies, as of 2009 the new concern has been a so-called "gas glut."
ISSN:1230-4999
2545-1901