Chinese Shale Gas: Potential Market Changer
North American investors believe that the future of the market lies out east, and will be closely watching studies aimed at investigating China's unconventional resource development.
North American investors believe that the future of the market lies out east, and will be closely watching studies aimed at investigating China's unconventional resource development.
The Wall Street Journal reported that ExxonMobil Corp. (NYSE:XOM), ConocoPhillips (NYSE:COP), BP plc (LSE:BP) and TransCanada Corp. (TSX:TRP) have agreed to merge two competing natural gas pipeline projects into a single pipeline that will export natural gas from Alaska's North Slope to Asia.
Forbes reported that Alaska has given ConocoPhillips (NYSE:COP), ExxonMobil Corp. (NYSE:XOM) and BP plc (LSE:BP) until the end of October to develop a plan to transport natural gas from the state's North Slope to a port where it will be condensed into liquefied natural gas and exported to Asian markets.
Poland’s reserves of shale gas may be as much as 3 trillion cubic meters, according to estimates by geologists and energy consultants, potentially making the country a net exporter of gas and reducing Europe’s dependence on Russia.
Shell may spend $50 billion in Australia over the next decade as Europe’s largest oil company continues a shift to gas.
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