• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 19 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 5 days Does Toyota Know Something That We Don’t?
  • 5 days World could get rid of Putin and Russia but nobody is bold enough
  • 1 day America should go after China but it should be done in a wise way.
  • 7 days China is using Chinese Names of Cities on their Border with Russia.
  • 8 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 8 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 8 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 7 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 8 days Putin and Xi Bet on the Global South
  • 8 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 9 days United States LNG Exports Reach Third Place
  • 9 days Biden's $2 trillion Plan for Insfrastructure and Jobs
Editorial Dept

Editorial Dept

More Info

The Potential of Spanish Shale Gas

The invasion and annexation of Crimea has EU policymakers scrambling to improve energy security. The European Commission hopes to publish a roadmap by June 2014 that will spell out how exactly Europe can rid itself of Russian gas. Meanwhile, member states are not going to wait. That means not only trying to find other suppliers around the world (U.S. LNG), but also developing Europe’s domestic energy resources. Poland has been the strongest proponent of exploiting European shale gas as an alternative to imported Russian gas. British Prime Minister David Cameron has strongly favored the same approach in the U.K.

Spain is also hoping to get into the mix. Spain has been a nonfactor when it comes to energy production, largely dependent on imports. The Iberian nation is the fourth largest importer of LNG in the world, and relies upon imported oil and gas to meet 99% of demand.

   

But the success of the American shale gas revolution and the urgency with which Europe now wants to develop its own energy resources has the Spanish government pushing hard on shale gas. A new report from Deloitte suggests that Spain does in fact have sizable shale gas resources and could turn itself into a net exporter of natural gas if they chose to exploit them. Spain’s oil and gas reserves have been tough to access using conventional drilling methods, but with the proven techniques used to tap shale in the U.S., Spain thinks it can do the same. The report estimates…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News