• 5 minutes Trump vs. MbS
  • 9 minutes Saudis Threaten Retaliation If Sanctions are Imposed
  • 15 minutes Can the World Survive without Saudi Oil?
  • 38 mins WTI @ $75.75, headed for $64 - 67
  • 11 hours The Dirt on Clean Electric Cars
  • 1 hour These are the world’s most competitive economies: US No. 1
  • 38 mins The end of "King Coal" in the Wales
  • 17 hours Uber IPO Proposals Value Company at $120 Billion
  • 1 hour Saudi-Kuwaiti Talks on Shared Oil Stall Over Chevron
  • 7 hours EU to Splash Billions on Battery Factories
  • 8 hours Closing the circle around Saudi Arabia: Where did Khashoggi disappear?
  • 40 mins Coal remains a major source of power in Europe.
  • 21 hours COLORADO FOCUS: Stocks to Watch Prior to Midterms
  • 8 hours Poland signs 20-year deal on U.S. LNG supplies
  • 22 hours Saudis Pull Hyperloop Funding As Branson Temporarily Cuts Ties With The Kingdom
  • 18 hours U.N. About Climate Change: World Must Take 'Unprecedented' Steps To Avert Worst Effects

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


x

Join the discussion | Back to homepage

Leave a comment

Leave a comment

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