Shale Gas Shale Gas Issue Major Sticking Point at Energy Conference in Oslo
Shale gas has turned the energy world upside-down: As the US becomes the world's number one gas producer, gas demands are skyrocketing: By 2035, analysts believe, global natural gas consumption could rise by 50%. This perspective puts significant pressure on European gas producers...
Osla/Norway – “Out of all the fossil fuels, natural gas has the highest absolute growth. The global demand for natural gas increases by half over the period to 2035,” explained Keisuke Sadamori from the International Energy Agency (IEA) at the international energy conference “The European Formula“ in Oslo. This means that the share of natural gas in the global energy mix would approach 25% by 2035.
While gas requirements rise moderately (+13% from 2011-2035) in Europe, the anticipated increase in gas requirements was being driven in particular by a sharp rise in demand in China, India and the Middle East (+60%). Unconventional natural gas resources, such as shale gas, account for about a third of the natural gas produced worldwide in 2035.
Industry Hopes for Stimulating Shale Gas Effects in Europe
This boom has brought stimulating effects to several markets, particularly in the Americas: Rainer Seele, Chairman of the Board of Executive Directors of Wintershall, stated that the USA were the only leading industrialized nation to record significant reductions in its greenhouse gas emissions due its use of gas rather than coal or oil.
Natural gas was also the backbone of the current new wave of industrialization in the USA. “The shale gas boom has focused attention on natural gas as a product. All producers, whether conventional or unconventional, benefit from this,” Seele explained. He also agitated for production of unconventional gas in Europe, Wintershall's domestic market... (read more on page 2)