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GCE Group President, Alexander Moskalenko

Shale revolution. To what extent is it a promising direction?

So-called “shale revolution” is preferable for the USA. Moreover, new energy resources exploration and the latest technologies application is always a step forward for the mankind. Shale gas sensation will disturb energy market bringing no serious consequences. In my opinion, the question is not about total substitution of main fuels by shale hydrocarbons in the nearest future. Shale gas is in trend nowadays, nothing more. Hydrate gas deposits at the bottom of shelf seas may become sensation next time. Hydrate gas extraction process is less complicated in comparison with shale gas recovery and many countries, including Russia, have advanced deep sea technologies. It seems impossible for any petrochemical plant to start use new type of raw material instead of the one used before. Shale gas is creating a separate industry with particular plants. My point of view is that shale revolution will not seriously impact US petrochemical sector.

Will shale revolution impact the countries with poor energy reserves?

The situation will not change seriously. China is gasping because of energy resources shortage and needs any new energy sources. Poor quality coal is available only. Chinese shale gas is not likely to influence world energy sector. The most important for China is to meet own market’s demands.

How will shale gas extraction in Europe affect Russian energy policy in this region?

I don’t think shale gas extraction in Europe will influence Russian energy policy there. European market is not oriented to shale gas yet. If we consider the possibility of oil prices decline because of shale gas growing popularity... It is difficult to forecast. I have an impression that oil and gas prices depend less on the consumption and more on the speculation on the stock exchange.

Source: Energy and Industry of Russia.

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