FT: Shale boom unlikely in Europe, says Eon

Shale gas did not have the potential to be a “game changer” for energy supply in Europe because the continent lacked the property rights that have enabled the US boom, according to the head of trading at Eon.

The power company, the biggest by sales in Germany, is one of the largest potential customers for shale gas energy in Europe. However, Leonhard Birnbaum, said fracking was unlikely to succeed because the continent lacked the right mix of land rights and infrastructure.

Mr Birnbaum, who is responsible for trading and supply at Eon, said: “Fracking is in my view, not the big game changer in Europe that it is in the US. I can delineate why I don’t believe that. For fracking to be successful, you need a range of factors.”  MORE