In Europe, production of unconventional gas deposits has just begun and significant amounts are expected in the years to come. First projects have started in Eastern Europe – now is the time to take a look at the impact on the market.
The International Energy Agency (IEA) estimates in their report „World Energy Outlook 2011“, that the worldwide production of shale gas – or unconventional gas – is continually rising. In the report, the IEA examines risks and new possibilities for the energy system, based on quantitative analyses of global trends in energy and climate. The production of natural gas is seen as a bridge technology which is predicted to grow rapidly, especially in light of the future mix of energies. Nonetheless, the IEA also predicts a decline of conventional natural gas, since the deposits are shrinking. Shale gas – or the production of natural gas from unconventional deposits – will make up approximately up to a fifth of the global gas production in the year 2035. The report says that regional distribution will ensure greater safety and more evenly distributed risks.
In 2012, further regulations are expected for the European market, fuelling for example discussions about environmental aspects. These need to be taken into account to build a stronger support for the production of unconventional gas in Europe. Nonetheless, one thing is certain: the deposits are there and will be tapped in due time, changing the European gas market significantly.
Energy traders are still undecided on how shale gas will influence the spot market and the price development – in the United States, the shale gas boom led to a massive decline of prices. This might also be possible in Europe, as expected by many experts.
Even Gazprom has now developed a critical view on the influence of unconventional gas deposits in Poland – production of unconventional gas could diminish Russia’s influence on the European gas market. The question is getting louder: Can shale gas kill Gazprom?
IQPC’s European Leaders Summit on the implications of unconventional gas includes representatives from international companies such as Gazprom (Russia), Breitling Oil & Gas (USA), EnBW (Germany), or Falcon Oil & Gas (Hungary).
Use this opportunity to inform yourself of the newest developments in this energy sector and grab the opportunity to exchange news and information at our many workshops and networking sessions.
For more information on the conference and interesting downloads, please go to
http://bit.ly/shalegas-pr