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is Still at Nascent Stage Europe’s shale gas industry is still at its nascent stages of development. However, the results of initial exploration activities that are taking place in European countries are likely to increase future investments in the sector. Currently, large investments are focused on acquiring shale gas acreages across different countries in Europe. Both international and domestic companies in the European oil and gas industry plan to expand land acquisitions in prospective areas across Europe. As the region’s shale gas potential has not been proven, the acreage cost in Europe is significantly lower than that in the US. Poland is inviting investments in its shale plays through the provision of attractive fiscal terms. As the cost per acreage in Poland is very low, many IOCs have already invested to acquire acreage in Poland. These companies include: ExxonMobil, Chevron, ConocoPhillips, Marathon Oil and Talisman Energy. In May 2011, Chevron invested €30m ($44m) for a drilling license in Bulgaria. Geopolitics is one of the key factors driving shale gas development activities in Europe. The region has very high natural gas consumption. Also, the region heavily depends on gas imports (primarily from Russia, Norway and Algeria) to meet its natural gas requirements. Russia supplies about 26% of total European imports of natural gas. Eastern Europe is highly dependent on Russian gas imports due to their close proximity; however, this poses a threat to the energy security of Eastern European countries. Western Europe has oil and gas resources in the North Sea but is increasingly dependent on natural gas imports due to declining North Sea production. The success of shale gas in the US could help European countries that hope to replicate the success through the development of their own unconventional gas sources. For Sample Pages, please click or add the below link to your browser: http://www.globalmarketsdirect.com/SamplePdfRequest.aspx?ID=Gas-Shales-inEurope-2011-Market-Analysis-Industry-Development-and-CompetitiveLandscape&Title=Energy_and_Utilities&ReportType=Industry_Report&CompanyID=f b Shale gas development in Europe faces serious challenges due to the alleged environmental implications of hydraulic fracturing (fracking), the process of shale gas extraction, which include drinking and surface water contamination. Considering these alleged environmental implications, a number of countries in Europe have enforced moratoriums on the process. For example, the France’s Senate approved ban on
hydraulic fracturing. The bill, however, does not outlaw extraction of shale gas by other means. Poland has the largest shale gas reserves in Europe which is estimated to be 30% of the total Europe shale gas reserves. This has prompted the Polish government to develop its shale gas resource as an opportunity to take its economy forward and also fulfill its much needed energy security. Germany though has only 1% of the total shale gas reserve in Europe is encouraging shale gas development. Developing shale gas reserve will add to Germany’s efforts to secure its energy requirements through various sources such as storages, renewable energy and unconventional energy. “Gas Shales in Europe, 2011 – Market Analysis, Industry Development and Competitive Landscape” is the latest report from GlobalData, the industry analysis specialists, that provides insight into the European shale gas industry. The report presents shale gas potential in Europe, and provides details of key exploration areas, major companies engaged in the exploration of shale gas in Europe, drivers and challenges in shale gas development in Europe, and key merger and acquisition (M&A) activities in the European shale gas industry. The report discusses the development of shale gas exploration in Poland, detailing concessions awarded, companies involved, drivers and challenges associated with the development of shale gas in the country, and expected economics. The report also details key developments in shale gas resources in other European countries and analyzes potential implications of shale gas development in Europe on the global oil and gas industry. For more updates, please join us at facebook: http://www.facebook.com/OilandGasMarketIntelligence Visit our report store: http://www.globalmarketsdirect.com For more details contact: email@example.com North America: Europe: Asia Pacific: +1 646 395 5477 +44 207 753 4299 +44 1204 543 533 +91 40 6616 6782