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Is Europe even further from a shale revolution?

Is Europe even further from a shale revolution?

Chevron’s move to withdraw its interest in Polish shale and legislative developments in the UK have added to the scepticism as to whether shale can ever be commercially viable in Europe.

Commenting on the current state of European shale, oil and gas economic expert at think-tank Chatham House, Paul Stevens said “I don’t know any serious person who thinks Europe is going to have a shale gas revolution in 15 years at least.

“It’s just not going to happen, there are too many barriers to it; all we are seeing now is a few final nails in the proverbial coffin.”

The current scepticism is in contrast to initial industry optimism when the US Energy Information Administration said that Europe could hold trillions of cubic metres of shale gas ripe for extraction.

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