Webconference Shale Gas Huge Potential for Shale Gas in Europe and Africa
Shale gas has changed the global economy: While the US is already discussing re–industrialisation processes, Europe and Asia are still fighting high energy prices. But shale gas could do more: Market experts Frost & Sullivan expect unconventional gas to become the preferred feedstock for chemical manufacturing – with big potentials in Europe and Africa....
“The shale gas dilemma has become a contentious debate in South Africa, fraught with emotions and tension between industry and environmentalists, with public perception caught in the middle,” says Dominic Goncalves, industry analyst of Frost & Sullivan. “Unfortunately, vested interest by both extremes of the argument has caused many facts to be taken out of context. Potential economic benefits are large, if the gas can be extracted at an affordable price.”
As the shale gas production is, nevertheless, associated with environmental issues, such as potential water contamination, it has attracted a fierce backlash with calls for strict regulations governing production. If Europe addresses these issues, the development of shale resources would decrease the region’s dependence on supplies from Russia and the Middle East, Frost & Sullivan analysts believe. Currently, the production value chain is dominated by major oil and gas players, energy service companies as well as chemical and water treatment companies.
More about the shale gas boom in our survey The New Gold Rush: Benefits and Risks of the US Shale Gas Boom?
Shale Gas to Become Favoured Raw Material for Chemical Industry
“While natural gas currently holds a significant share of the energy market, newly discovered shale gas reserves around the globe are likely to promote consumption of gas as both an energy source and an affordable feedstock for a wide variety of chemicals and materials,” says Consulting Analyst, Michael Mbogoro. “The role of renewable energy sources globally could be challenged by the increasing importance and position of shale gas in the energy mix, especially in China and Europe.” While Europe has significant shale gas reserves, the development of these resources is nascent, due to strict regulatory framework. Yet energy independence and the political clout that comes with it, in addition to a burgeoning domestic industry fuelled by cheap energy, is a compelling case for the development of shale resources.
The market researchers will discuss the the evolving shale gas markets in a web conference, on Tuesday, 15 January, 2013. To register, visit the company's website.