• 4 minutes Some Good News on Climate Change Maybe
  • 7 minutes Cuba Charges U.S. Moving Special Forces, Preparing Venezuelan Intervention
  • 12 minutes Washington Eyes Crackdown On OPEC
  • 15 minutes Solar and Wind Will Not "Save" the Climate
  • 1 hour Most Wanted Man In Latin America For AP Agency: Maduro Reveals Secret Meetings With US Envoy
  • 2 hours And for the final post in this series of 3: we’ll have a look at the Decline Rates in the Permian
  • 11 hours Amazon’s Exit Could Scare Off Tech Companies From New York
  • 18 hours Prospective Cause of Little Ice Age
  • 22 hours Former United Nations Scientist says the UN is lying about Global Warming and Sea-Level changes
  • 13 hours And the War on LNG is Now On
  • 11 hours L.A. Mayor Ditches Gas Plant Plans
  • 2 hours *Happy Dance* ... U.S. Shale Oil Slowdown
  • 2 days Maduro Asks OPEC For Help Against U.S. Sanctions
  • 2 days Qatar Petroleum, Exxon To Proceed With $10 bln Texas LNG Project
  • 1 day Solar Array Required to Match Global Oil Consumption
  • 1 day Europe Adds Saudi Arabia to Dirty-Money Blacklist

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…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin



Oilprice - The No. 1 Source for Oil & Energy News