Shale in Russia, China, Europe, Australia and Latin America. (Shale Oil, Part: II)

Shale in Russia, China, Europe, Australia and Latin America. (Shale Oil, Part: II)
Russia and China will lead the way in the production of resources from shale after the US according to executives at the Financial Times Global Commodities Summit in Lausanne, Switzerland, as reported in April by Rigzone. Torbjorn Tomqvist, chief executive of trading house Gunvor said (…) it was clear that shale production on a similar scale to that in the US is possible in several of the world´s biggest current energy producers and consumers, but that Europe is unlikely to be transformed by it. Mr Tomqvist added “I think in Russia, you will see the first major change. You have the political climate there to drive through large-scale shale operations both in gas and oil.” (1) 162759002Russia’s shale oil potential is not fully mapped, but the Bazhenov formation in Western Siberia is considered one of the largest, and ExxonMobil teamed up with Rosneft at the start of 2013 to begin drilling. (2) Tomqvist also said that China, Australia and South America were promising as shale-exploiting countries. Bob H. Takai, general manager in energy for Sumitomo Corp said that China could rival Russia as the biggest shale producer: “As far as the reserve is concerned I think China has got the largest potential reserves of shale oil and shale gas, even bigger than the US.” But he added that before those reserves could be accessed China would struggle with problems ranging from infrastructure to the availability of water. (3) The country could, according to “Clyde Russell: Australia, Not China, the Next Great Shale Gas Hope”, lose out to Australia in the race to be second behind the United States in bringing significant production on line. Australia has several advantages over China when it comes to developing shale gas reserves. Even though the reserves are in remote areas, there is existing infrastructure available as some of these areas, such as the central Australian Cooper Basin, have long histories of conventional gas and oil production. This gives shale gas output the ability to flow from the centre of the country to the east coast where it could be fed into existing, or expanded, LNG plants. In fact, Santos, Australia’s number two energy firm has started shale output on a commercial scale and plans to feed the gas into an LNG plant that it is building in partnership with Malasia’s state-owned Petronas. (4)
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