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Dear friends! For more than three years I've been telling you about the main news, events, trends in the world oil and gas market. I do it for free and without advertising. Therefore I ask you for help. Wognews needs development. You are more than 20 000 people from more than 80 countries. If each donate a small amount of money, $10, $20, $30 or more, wognews will become better. Thank you, Vladimir Vinogradov, the founder of wognews.
2015-06-04 18:30:00

NO SHALE REVOLUTION

NO SHALE REVOLUTION

There will be no US-style shale gas revolution in Europe, the president of the International Gas Union (IGU) has told.

"You cannot duplicate [the US experience] in Europe," said Jerome Ferrier. "Politicians are hesitating to accept shale development."

Abundant shale gas in the US has helped domestic energy prices fall.

As a result some European governments, not least the UK, are keen to develop their own shale resources.

Mr Ferrier's comments come a day after a number of major energy firms called for a working price of carbon.

Carbon pricing

The IGU president, talking to the BBC at the World Gas Conference in Paris (WGC), said there was resistance to shale development in the UK and Poland, while there was "no way" it would take place in France.

Other countries, including Germany, Romania and Bulgaria, have placed moratoriums on fracking.

He added that it was "a pity" not to explore the possibility of shale development, but said "the future of gas does not depend on shale gas - there is enough conventional gas [to meet demand] for more than a century".

Mr Ferrier also stressed the need for a carbon price to reduce coal use, which emits huge amounts of CO2 linked with global warming.

"Without carbon pricing, countries will maintain coal power generation due to the low price of coal," he said.

Putting a price on carbon means big polluters are forced to pay for the CO2 they emit, giving them a strong incentive to reduce emissions. There has been an Emissions Trading System in Europe for a number of years but it has been ineffective in cutting emissions, largely because the price of carbon is too low.

Natural gas

Earlier this week, a number of leading energy companies jointly called for global carbon pricing, including Statoil, Total, BP, Shell, ENI and BG.

Tellingly, major US energy firms did not sign up to the initiative. Speaking at the WGC on Tuesday, Exxon Mobil chief Rex Tillerson pointed to the fact that CO2 emissions were falling in the US despite the fact there is no carbon price there.

This fall in emissions is due to cleaner shale gas replacing coal. Mr Ferrier said this was not going to happen in Europe, hence the need for a carbon price.

Oil and gas company chiefs have been championing the environmental benefits of natural gas this week, arguing that it provides a cleaner source of power than coal, which currently dominates global energy production.

They say it complements perfectly the push for renewable energy, which is variable due to fluctuations in the strength of the wind and sun.

Many environmentalists argue that efforts should be concentrated on truly clean renewable energy rather than gas, which is a fossil fuel that emits CO2.

bbc.com

Tags: SHALE, GAS, EUROPE, PRICE

Chronicle:

NO SHALE REVOLUTION
September, 22, 08:50:00

RUSSIA - KURDISTAN INVESTMENT

Instead, with the planned referendum just days away, Russian state oil giant Rosneft announced its latest investment last week, to help Iraqi Kurdistan develop its natural gas industry, for domestic supplies and eventual export.

NO SHALE REVOLUTION
September, 22, 08:45:00

IRAN'S GAS EXPORT: ABOVE 5 BCM

Iran exported over 5 billion cubic meters (bcm) of natural gas during the first five months of the current Iranian calendar year (March 21-August 22), Dispatching director of National Iranian Gas Company (NIGC) announced.

NO SHALE REVOLUTION
September, 22, 08:40:00

IRAQI OIL TO U.S.

Gazprom Neft has shipped its second and largest cargo of Iraqi crude to the US since the Badra field, its flagship overseas oil project, came on stream in 2014, the Russian oil company said Tuesday.

NO SHALE REVOLUTION
September, 22, 08:35:00

QATAR - TURKEY LNG

Qatargas has agreed to sell 1.5 million tpy of LNG to Turkey’s BOTAŞ Petroleum Pipeline Corporation (BOTAŞ) over a period of three years

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