FT: Chevron puts damper on shale gas hopes

Shale gas projects in Europe and China are not guaranteed to succeed and may not come into first production until the next decade, Chevron, the US oil and gas group, has warned.

George Kirkland, Chevron’s head of oil and gas production, told the Financial Times that it would be three to five years before the company could decide whether it would be worth starting up any shale projects outside America, and late this decade or early next before it could be producing gas. MORE (Registration May be Required).