ANNOUNCEMENTS
To Frack or Not to Frack?
production reaches economies of scale and RES related
technologies are more advanced.
Shale gas is natural gas extracted from unconventional reservoirs found inside shale rock formations deep inside the
earth. Though the industry has known about the existence
of shale gas for a long time, the invention of cost-effective
exploitation technology has led to a sudden and rapid increase of its extraction over the last 10 years.
Author:
Veton Qoku, Lawyer,
Karanovic & Nikolic, d.o.o.
While the energy industry and general public
have focused on promoting renewable energy sources (RES)1 a stealth energy revolution
promises to take the industry in a somewhat
different direction. With oil and conventional
natural gas prices constantly rising, RES still
in the early deployment phase, a new energy
resource has emerged and positioned itself
as a serious alternative on the market: shale
gas.
According to the U.S. Energy Information Administration3,
95 shale basins have already been discovered in 41 countries. The United States is the main producer of shale gas
worldwide, whilst China remains the largest resource potential with an estimated 1.115 trillion cubic feet of exploitable shale gas.4 By exploiting its shale gas resources, the
United States has recently managed to outstrip Russia as
the world’s top oil and natural gas producer. Apart from the
United States and China, the countries with the highest estimated exploitable shale gas include: Algeria, Argentina,
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