Shell CEO: Shale Potential "Limited" in Europe

Chief Executive Officer of Royal Dutch Shell, Peter Voser, has said that he sees limited potential for the development and recovery of shale gas in Europe, due to a number of restrictions.

Speaking to the company's Shell Venester magazine, Mr. Voser said that, despite shale gas's importance and viability in other areas, it was not easily excavated in Europe.

"Unconventional gas is an important part of our business," he said."We anticipate developments in shale and tight gas in North America, China, Australia."

Shell signed an understanding of cooperation in Ukraine in September of last year to further the company's shale gas extraction in the country, with an investment of $800 million (USD) to be used to further shale gas discovery and development in the country. Despite this, Mr. Voser said, and while Shell continues to look at shale in Europe, options were limited on the continent.

"We are looking at further opportunities in Europe but the development of shale gas will be reduced there as a result of regulation, legislation, the high population density and the challenge of obtaining permits (in Europe)."