• 4 minutes Will Libya Ever Recover?
  • 9 minutes USGS Announces Largest Continuous Oil Assessment in Texas and New Mexico
  • 13 minutes What Can Bring Oil Down to $20?
  • 16 minutes Venezuela continues to sink in misery
  • 18 hours Alberta govt to construct another WCS processing refinery
  • 5 hours Rage Without Proof: Maduro Accuses U.S. Official Of Plotting Venezuela Invasion
  • 9 hours Paris Is Burning Over Climate Change Taxes -- Is America Next?
  • 9 hours Instead Of A Withdrawal, An Initiative: Iran Hopes To Agree With Russia And Turkey on Syrian Constitution Forum
  • 20 hours Let's Just Block the Sun, Shall We?
  • 10 hours Water. The new oil?
  • 6 hours Storage will in time change the landscape for electricity
  • 2 days Quebecans Snub Noses at Alberta's Oil but Buy More Gasoline
  • 2 days U.S. Senate Advances Resolution To End Military Support For Saudis In Yemen
  • 2 days OPEC Cuts Deep to Save Cartel
  • 9 hours Regular Gas dropped to $2.21 per gallon today
  • 2 days Global Economy-Bad Days Are coming
Natural Gas Plunges As Oil Prices Consolidate

Natural Gas Plunges As Oil Prices Consolidate

Consolidating oil prices and low…

Gazprom's Grip on Europe Slips as the Shale Revolution Grows

Gazprom’s once solid grip on Europe is slowly, but inexorably, slipping as the shale gas revolution continues to grow in the US, and spread out to other parts of the world.

Gazprom is used to being the bully of the playground, yet shale gas is offering the possibility of a future in which the other children learn to stand up for themselves.

For years officials at Gazprom were derogatory of shale gas; referring to it as a bubble, or a luxurious side dish that is not for everyone. Yet now, with the US set to surpass Saudi Arabia and Russia to become the largest producer of crude oil in the world by 2035, all thanks to shale oil & gas, Russia must take note and accept that shale really is a game changer.

Related Article: Is TransCanada Going the Way of Gazprom?

Even Vladimir Putin has admitted that shale technology needs to be considered as part of Russia’s future. “Politicians, experts and businessmen are talking about the shale revolution. We must take into account current developments and have a clear view of how the situation will develop not only in the next two to three years, but through the next decade.”

Elena Herold, a Russian analyst at PFC Energy, remarked that “when the whole boom started, Gazprom was in denial,” but “no one in Russia's energy industry can afford to ignore the president's stark comments.”

By. Charles Kennedy of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

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