WSJ: Without Shale, Europe's Gas Bill Is Mounting

Germany and the U.K., Europe's two largest consumers of natural gas, are likely to lean ever more heavily on the fuel to meet energy needs in the coming years, as the expansion of low-carbon nuclear and renewable power falls short of their needs.

This extra demand would probably be met by high-priced imports, such as gas brought in from Russia via pipelines or liquefied natural gas from the Middle East and Africa.

For a continent already grappling with its long-term competitiveness, this could be bad news.

"Forget about straight-line forecasts for natural gas demand and supply," said Anne-Sophie Corbeau, a senior gas analyst at the International Energy Agency. Shale gas opens the way for "patterns [to] suddenly diverge from the conventional view in the most unexpected way."  MORE