Shale Gas in Europe: Challenges and Opportunities
Jude Clemente Energy Analyst JTC Energy Research Associates, LLC San Diego State University August 2012
Jude Clemente is Principal at JTC Energy Research Associates, LLC and affiliated with the Department of Homeland Security at San Diego State University. He holds an MS in Homeland Security from SDSU and a MBA in Finance from Saint Francis University. Clemente’s research specialization is oil and gas supply at the national and international levels. He is a frequent contributor to Oil & Gas Journal and Energy Pulse, and his most recent work has appeared in Oil & Gas Financial Journal, Journal of Energy Security, Pipeline & Gas Journal, E&P, The American Oil & Gas Reporter, Petróleo, and Public Utilities Fortnightly.
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Electronic copy available at: http://ssrn.com/abstract=2142176
Abstract Rapidly evolving technologies and services have ignited a shale gas revolution in the United States. In April 2011, an initial assessment by the U.S. Energy Information Administration (EIA) revealed that shale gas is a “global phenomenon,” and many countries want to use more natural gas to reduce greenhouse gas emissions and backup intermittent wind and solar power. The emerging frontier could be Europe, the world’s largest gas importer, where a healthy resource has governments debating whether shale gas should mitigate a risky dependence on Russia and its quarter share of proven global reserves. The current analysis outlines the three key challenges and opportunities that exist for domestic shale gas to make a material difference in Europe (Exhibit 1). As regional markets become more integrated, the chance that Europe could become more self-sufficient is fundamental to understanding the dynamics of the emerging global gas market.