Platts: EU Studies Show Shale Could Lower Gas Prices, Reduce Dependency

Exploration and development of shale gas in Europe could help the EU keep its dependency on gas imports at 60%, according to one of three studies commissioned by the European Commission that were published Friday. It concludes that significant shale gas development in Europe could both lower gas prices and limit the EU’s import dependency, but not make Europe self-sufficient, as has been the case in the US.

The European Commission is neutral on whether EU member states should develop shale gas potential, but commissioned three reports to help inform the debate and help it ensure an appropriate legal framework is put in place and that any shale gas extraction is carried out in line with EU law.

“The studies look at the potential effects of these fuels on energy markets, the potential climate impact of shale gas production, and the potential risks shale gas developments and associated hydraulic fracturing (“fracking”) may present to human health and the environment,” the EC said.   MORE