The US Shale Oil Revolution: The Test of the Business Model is Underway
Since 2010, the United States has been undergoing a second shale revolution with the very rapid development of Light Tight Oil (LTO) or shale oil, following the revolution in shale gas. This development has allowed the production of oil and liquids to increase, so that the US is the world’s largest producer today, ahead of Saudi Arabia and Russia.
Gas Strategy of China: Developing competion between national production and imports
The Chinese gas market is facing four key challenges and the government is elaborating responses which will have implications for the Chinese and world energy markets:
Gazprom in Europe: a Business Doomed to Fail?
The construction of what is nowadays called European energy policy is an ongoing process that officially started with the creation of the European Coal and Steel Community in 1951, and has not yet been entirely finalized. It took several decades to move from a Community composed of six countries to a policy – not fully fledged – intended to strengthen as much as possible cohesion between 28 EU member states in the energy sector.
Raising the Costs to President Putin
-by building dissonance within. Some like to remember fondly the call by Ronald Reagan for Gorbachev “to tear down this wall”. The United States “Won the Cold War” said George Bush Senior in his State of the Union Address. We need to step back and recognize with some humility that the Soviet Union fell largely of its own weight rather than as a result of external pressure. Again today Russia is economically weak. It has become an exporter of raw materials, its industrial sector is weak, and its revenues are already falling. Conditions now offer the opportunity to aggravate Russia’s economic frailty – let’s focus on that.
Middle East Oil and Gas Producers: Soon to Be Back in the Lead?
The World Energy Outlook 2013 published by the IEA confirms that despite the rise of unconventional fuels in particular in the US, Middle East will by the mid-2020s retake its place as the world major oil and gas supplier, providing most of the increase in global supplies. Well, there are some big ifs.
Ukraine: Is Europe Ready for Another Gas Cut?
The turmoil in Ukraine is now putting one question on everyone mouth: what if Russian gas transiting through Ukraine was cut once again? Today, Ukrainian gas pipelines still carry around 60% of the Russian gas intended for the European Union; i.e. around 16% of the EU final gas consumption.
The Impact of the Development of Shale Gas in the United States on Europa's Petrochemical Industries
The shale gas revolution has led to strong falls in energy prices, reducing significantly the raw material costs of the US petrochemical industry. Between 2008 and 2012, US gas prices fell by two thirds.
Dynamics and drivers of shale gas development in three European countries: can a European policy be imagined?
The European Commission introduced in its Work Programme 2013 an action regarding “Environmental climate and energy assessment framework to enable safe and secure unconventional hydrocarbon extraction”.
How is Russia Adapting to a Threatening New Energy World?
The US shale gas revolution has shaken global gas markets. The US is on the eve of becoming self-sufficient in natural gas (and oil), thanks to the massive discoveries of unconventional resources on their territory, while being able to export part of their production. These developments have been closely watched by traditional oil and gas producers.
The European Gas Market: A Reality Check
With the approach of the 2014 deadline for the completion of a truly European liberalized energy market, there is growing concern on the adequacy of the market structure with the changed economic and geopolitical environment. Market-based and short-term approaches have been fostered for both gas and electricity markets. Energy and climate policies have therefore a primary function in designing the basic rules for these markets to develop.
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