Chapter 11: The impact of shale gas on global gas markets and the prospects for US and Canadian LNG exports
As discussed in the preceding chapter, the tremendous boom in US shale gas has been a “game changer” for the US with numerous benefits deriving from shale gas development including economic growth, energy security, and the potential for emissions reductions as coal-fired power plants are replaced with gas-fired power plants. As a result, governments around the world are in the process of assessing their own shale gas reserves to determine whether they can replicate the success of US shale gas development in their own country. Over time, and given the vast global shale gas resource base, increased global shale gas production could have numerous implications in terms of geopolitics and energy security. For example, European shale gas production could result in a reduced dependence on Russian natural gas imports if production is sufficient to offset the continuing decline in reserves. Whether or not enough European countries will develop their shale gas resources remains to be seen.
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