LONDON, Jan. 8, 2013 /PRNewswire/ -- Shale gas production shows great promise in power generation capacity and is likely to shift natural gas trading patterns. As the production increases, it is expected that shale will become the preferred feedstock for chemical manufacturing in the future, with high economic potential in Europe and Africa.
These evolving shale gas markets will be discussed in Frost & Sullivan's web conference, taking place on Tuesday, 15 January, 2013 at 2 pm GMT. Industry Analyst, Dominic Goncalves, and Consulting Analyst, Michael Mbogoro, will lead a teleconference describing the market size and value and its various components within Europe and South Africa. Additionally, the web seminar will look at the environmental and regulatory challenges faced from both a manufacturing and energy point of view.
"The shale gas dilemma has become a contentious debate in South Africa, fraught with emotions and tension between industry and environmentalists, with public perception caught in the middle," says Goncalves. "Unfortunately, vested interest by both extremes of the argument has caused many facts to be taken out of context. Potential economic benefits are large, if the gas can be extracted at an affordable price."
However, the extraction process is associated with environmental issues, such as potential water contamination and has attracted a fierce backlash with calls for strict regulations governing production.
If Europe addresses these issues, the development of shale resources would decrease the region's dependence on supplies from Russia and the Middle East. The production value chain is dominated by major oil and gas players, energy service companies as well as chemical and water treatment companies.
"While natural gas currently holds a significant share of the energy market, newly discovered shale gas reserves around the globe are likely to promote consumption of gas as both an energy source and an affordable feedstock for a wide variety of chemicals and materials," says Mbogoro. "The role of renewable energy sources globally could be challenged by the increasing importance and position of shale gas in the energy mix, especially in China and Europe."
While Europe has significant shale gas reserves, the development of these resources is nascent, due to strict regulatory framework. Yet energy independence and the political clout that comes with it, in addition to a burgeoning domestic industry fuelled by cheap energy, is a compelling case for the development of shale resources.
To participate in this complimentary briefing, please e-mail Chiara Carella, at email@example.com, with your full name, company name, telephone number, company website, city, and country, and a registration link will be e-mailed to you. You may also register to receive a recorded version of the briefing at anytime by submitting the aforementioned contact details.
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SOURCE Frost & Sullivan