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Gas Shales in Europe - Industry Development, Competitive Landscape and Market Analysis to 2020
Gas Shales in Europe - Industry Development, Competitive Landscape and Market Analysis to 2020
Shale Gas Production in Europe Will Take at Least a Decade to Make a Significant Impact
Hyderabad,
AP,
India
(prbd.net)
17/11/2010
The shale gas industry in Europe is still in its infancy. It is expected that it will take about two to five years to firmly establish the potential of shale plays in Europe and it is only after 2020 that the production will have any considerable affect on the supply of natural gas.Shale gas production in Europe is expected to reach 1.2 billion cubic feet per day (bcf/d) by 2020. However, if the results from the prospective basins are encouraging, shale gas may change the structure of the energy industry in Europe in the long term.
Huge interest in shale gas potential in Poland has made the country a key area for shale gas exploration. Major international oil companies (IOCs) like ExxonMobil Corporation, Chevron Corporation, ConocoPhillips, Talisman Energy and Marathon Oil have accumulated significant acreages in prospective shale gas basins in the country.
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Many companies have started also started exploration activities to test Poland’s shale potential. Poland’s Polskie Gornictwo Naftowe i Gazownictwo SA (PGNiG) drilled the country's first shale well in April 2010. Encouraged by its results, the company started fracturing the well. Lane Energy and ConocoPhillips have also drilled two vertical wells - Łebień LE1 and Łęgowo LE1, to test the shale formation. Other companies like Talisman Energy and BNK Petroleum are also planning to drill wells in their respective concessions.
The results from these exploration activities will decide the level of future activities in Poland and also across Europe. Positive results are expected to lead to an increased interest in shale gas resources across Europe.
There are a number of major issues that may hinder the development of shale gas in Europe. The growing environmental concerns over the development of shale gas resources will also be one of the major challenges in the development of shale gas industry in Europe. Already, the drilling by Royal Dutch Shell in southern Sweden has attracted opposition from some local residents and green activists, who are worried about the environmental impact if shale gas deposits are exploited on a large scale.
GlobalData’s new report, “Gas Shales in Europe - Industry Development, Competitive Landscape and Market Analysis to 2020”, provides an in-depth analysis shale gas industry in Europe. The report details the shale gas potential in Europe providing details of the key exploration areas. The report also details key companies exploring shale gas in Europe, major drivers and challenges in shale gas development and also key merger and acquisition activities in the European shale gas industry. The report discusses the development of shale gas exploration in Poland detailing concessions awarded, companies involved, drivers and challenges in development and expected economics. The report also details key development in other European countries. The report analyzes the key implications of shale gas development in Europe.
For further details, please click or add the below link to your browser:
http://www.globaldata.com/reportstore/Report.aspx?ID=Gas-Shales-in-Europe-%E2%80%93-Market-Analysis-Industry-Development-and-Competitive-Landscape-to-2020&ReportType=Industry_Report&coreindustry=Industry_Report&Title=Energy_and_Utilities
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