Shale Gas
Shale gas refers to natural gas that is trapped within shale formations and that can be extracted thanks to hydraulic fracturing and horizontal drilling. Shale gas has a great potential for development in Europe. The European Commission’s Joint Research Centre did a study estimating that the technically recoverable potential of shale gas in the EU is around 16 trillion cubic meters.
There is no common EU policy regarding shale gas. France and Bulgaria have banned hydraulic fracturing whereas Poland and the United Kingdom have an ongoing programmes of exploratory drillings and hydraulic fracturing tests.
Our View
The European chemical industry considers that shale gas is an opportunity for Europe and could boost Europe’s competitiveness provided it is made in a safe and responsible manner. European policymakers should explore this opportunity.
The shale gas revolution in the United States has an impact on the European chemical and manufacturing industry and gives a significant competitive advantage to the American industry. Regions that do not have access to shale gas are suffering from a competitive disadvantage. Shale gas could also provide a competitive source of feedstock for the chemical industry.
Natural gas (including shale gas) can also help Europe meet its greenhouse gas emission reduction targets in a cost-effective manner and shale gas can improve Europe’s energy security, and play a role as a backup energy to compensate for renewables’ intermittency.
