Think-tank forecasts EU shale gas revolution

Polish think-tank the Kosciuszko Institute published a report on Friday 5 September analysing the effects of shale gas on the EU gas market over the next decade. Unconventional Gas - a Chance for Poland and Europe? Analysis and Recommendations said that the EU gas market was facing an "unconventional gas revolution" over the next 10 years. Its conclusion was that reserves of unconventional gas will increase security of supply and lower prices, and it estimated that even if extracting shale gas was 50% more expensive than conventional gas it would still be cheaper than gas imported from Russia. The report said the lack of a single European gas market could hinder the positive benefits of shale gas, and warned that the single gas market needs to be completed as soon as possible to open up the EU gas market to new gas sources and break Russian supply dependency.
The Kosciuszko Institute