Bloomberg: Shale Gas May Account for 45% of European Output of Fuel by 2035

Shale gas may account for 45 percent of production of the fuel in Europe excluding Norway by 2035, management consultant A.T. Kearney said, citing a study.

Europe sits atop about 7 percent of world recoverable shale gas reserves and may produce as much as 58 billion cubic meters in 2035, A.T. Kearney said in a statement. Production won’t be economical in most countries until 2017 or 2018 because costs will exceed market prices, the group said.  

“The business with shale gas is a long-term, capital-intensive and risky project,” Kurt Oswald, the main author of the study, said in the statement. Poland and Ukraine will lead Europe, partly because of political backing, the group said.  MORE