While Australia is the best part of 10-years behind the U.S. in terms of exploring for and developing its unconventional oil and gas potential it is a country which featured prominently in a 2011 analysis of world shale gas potential by the U.S. Energy Information Agency.
But China likely has even more shale gas potential than the U.S., with the U.S. Energy Information Administration figuring on 1, 250 trillion cubic feet of recoverable shale gas in China.
Technically recoverable shale gas potential in Australia was put by the EIA at 390 trillion cubic feet of gas, about 45% of the 862tcf estimated for the U.S., but roughly double the estimate for France and Poland and 9-times the estimate for Ukraine which recently attracted an investment by Royal Dutch Shell.
There is no question that oil and gas produced from shale holds the potential for a transformation of the energy landscape in the United States.
Its immense shale-gas potential might make it even less willing to pay up, inclining it to depend less on pipeline gas and to take the risk that it can smooth out ebbs and flows through spot markets.
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Undoubtedly, shale gas has the potential to transform the national energy picture.
Now senior coalition figures have agreed that shale gas has the potential to be deeply controversial without securing major benefits in lowering carbon emissions or reducing energy costs.
France banned hydraulic fracturing earlier this year , despite the potential for extensive shale gas development in Southern France.
New drilling techniques similar to those used to recover shale gas are offering the potential for gigawatts of power.
While shale efforts have been kicking around for decades in the United States, recent years have seen new studies and discoveries transform the energy landscape, reversing entire infrastructures as study after study hint at the enormous, world changing potential set in shale rock, deep below our feet.
And that report was issued before anyone had a clue about the potential of the Cline Shale.
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Energy Secretary Ed Davey said shale gas was a promising new potential energy resource for the UK. It might contribute significantly to energy security and substitute for imports which are increasing as North Sea gas is decreasing.
McClendon says the Haynesville shale formation in Louisiana and Texas holds serious potential.
Should a massive natural gas infrastructure build-out take place to move shale resources to market, with significant untapped feedstock potential, biogas could emerge as a clean energy Cinderella story over the next decade.
"As we can see from the experience in the US, the exploration of shale gas and coal-bed methane has the potential to raise billions of pounds, resulting in reduced energy bills, " he said.
This is the result of improved technology and better knowledge of the enormous potential of such natural gas deposits as the Marcellus Shale in New York and Pennsylvania, and the Eagle Ford deposit in Texas.
In response to a question, Martens revealed that DEC hired consultants to review potential seismic impacts, such as earthquakes, related to shale gas development.
Also, the shale boom in the U.S. and the long-term potential of the oil sands business in Canada might have prompted a shift in focus.
Fast forward to 2012: with the recent departure of natural gas producers, who are moving out of dry shale gas areas to focus on new oil-based shale initiatives due to low pricing for the former, the Gulf of Mexico has the potential to become weighty again in the minds of gas traders.
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Elliott has said it wants Hess to boost shareholder value through various means, including a potential spin-off of the oil company's holdings in North Dakota's Bakken shale-oil field.
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