EconoMonitor : EconoMonitor » The Next Shale Revolution—Probably Russia:
"More than 400 shale oil and gas wells will be drilled outside of the US in 2014, most of them in China and Russia, while Europe largely sits on the sidelines of the so-called revolution, according to energy consulting firm Wood Mackenzie Ltd. The geological conditions—not to mention the public support—for a shale revolution don’t exist in Europe on the level that they do in the US, but Russia, China, Algeria and Argentina, among others are gaining shale momentum.
Russia alone has the technology, infrastructure, water and political will to be the next revolutionary shale venue—not to mention a lot of sparsely-populated space in which to drill without public backlash. The key venue here is the oil-bearing deposits of the Bazhenov shale place in Western Siberia.
For China, the shale revolution is already underway—at least on paper. Late last year, Beijing released a Cabinet-level White Paper calling for the production of 6.5 billion cubic meters of natural gas from shale formations by 2015, and 100 billion cubic meters by 2020."
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