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Reports play down shale gas industry
By Richard Fu |
June 21, 2013, Friday
|
Online Edition
Online Edition
SHALE gas will have a limited impact on global energy market over the next three years due to technical challenges and higher development costs, according to a new Deloitte report.
The success of North American shale gas has spurred interest in duplicating the results in other countries, including China.
But given the greater technical challenges and higher development costs, exploitation of the unconventional fuel is not easily replicable in other markets, the report said.
While some countries are making progress, over the next one to three years it will remain a largely regional resource with an uncertain impact on the global market past this timeframe, it said.
China, which has set ambitious target in shale gas production, has opened some resources to foreign companies and also acquired projects overseas in order to obtain technology and expertise.
China represents the biggest shale opportunity outside of the US, but it still lacks regulations which are necessary to encourage rapid development in the sector, according to a recent Bernstein research report.
Also, it's highly unlikely that China will emerge as a shale gas exporter due to rising demand at home and exploration challenges, said Deloitte China Energy & Resources Leader Charles Yeung.
The success of North American shale gas has spurred interest in duplicating the results in other countries, including China.
But given the greater technical challenges and higher development costs, exploitation of the unconventional fuel is not easily replicable in other markets, the report said.
While some countries are making progress, over the next one to three years it will remain a largely regional resource with an uncertain impact on the global market past this timeframe, it said.
China, which has set ambitious target in shale gas production, has opened some resources to foreign companies and also acquired projects overseas in order to obtain technology and expertise.
China represents the biggest shale opportunity outside of the US, but it still lacks regulations which are necessary to encourage rapid development in the sector, according to a recent Bernstein research report.
Also, it's highly unlikely that China will emerge as a shale gas exporter due to rising demand at home and exploration challenges, said Deloitte China Energy & Resources Leader Charles Yeung.
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