Download: Gas Shale and Fracking in Europe 2012 Report
Industry market research company GlobalData has released a new report called ‘Gas Shales in Europe, 2012 – Market Analysis, Industry Development and Competitive Landscape’, which points out that European consumption of natural gas is currently double domestic production, but shale gas development activities are facing continued resistance in Europe, due to environmental concerns regarding hydraulic fracturing or ‘fracking’.
‘Development of shale resources in Europe is of high interest to the industry and the region as a whole,’ explained Matthew Jurecky, Director, Energy Research and Consulting at GlobalData. ‘The EU would benefit from diversifying its energy supply away from its current, at risk, sources to a more manageable, domestic supply. It would reduce exposure to geopolitical issues and threats, which trickle down to consumers negatively impacting the personal economies of Europeans.’
Europe has risked in-place shale gas resources of around 2587 trillion cubic feet (tcf), says GlobalData, which represents around one tenth of the world’s total risked in-place shale gas reserves. France holds the second largest recoverable resources within Europe, with a share of 29% in the European gas shale market.