Alaska Natural Gas Pipeline Message Board

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Gold/Mining/Energy : Alaska Natural Gas Pipeline

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To: Snowshoe who wrote (517)	2/16/2010 8:09:48 PM
From: Snowshoe	of 570

Global shale gas development could depress the LNG market... Exxon, Chevron ‘Land Grab’ for Europe Shale Gas, JPMorgan Says bloomberg.com “A land-grab has occurred in Europe over the last two years with majors such as Exxon, Conoco, Chevron and Statoil ASA all participating, not willing to miss out as they did in the U.S.,” said Mark Greenwood, a Sydney-based analyst with JPMorgan. “While it’s still early days for European and Chinese shale gas plays, its potential is yet another threat for the LNG supply-demand balance.” The International Energy Agency said in November the world may have an “acute glut” of gas in the next few years because production of so-called unconventional fuel, which includes shale gas, is set to rise 71 percent between 2007 and 2030. Shale is a rock comprising layers of sediment from which oil and gas can be extracted. The success of shale gas extraction in Europe and China may sap global LNG demand, reduce Europe’s dependence on Russian natural gas and force new Russian gas projects and Qatari LNG to compete with Australian LNG projects for Asian customers, Greenwood said.

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