Oil & Gas Financial Journal

Russia’s Putin not happy with shale gas boom
Oil & Gas Financial Journal

Western technology that has utilized horizontal drilling and hydraulic fracturing to develop previously uneconomic shale gas and oil reserves has lessened the influence that Russia has over many of its neighbors, particularly those in Eastern Europe that traditionally have been heavily dependent on natural gas, and to a lesser extent oil, from Russian pipelines.

Former Soviet satellite nations in Eastern Europe and even Central European nations like Germany have been at the mercy of Russian strongman Valdimir Putin and the Russian oligarchs who set pricing for Russian gas. Today, however, these countries are gaining access to oil and gas from other sources and there is some development of shale gas in Europe itself, most notably in Poland.

In recent years, the United States has surged ahead of Russia as the world leader in natural gas production. As a result, US and Canadian gas producers are preparing to produce liquefied natural gas (LNG) for export to Asia and, possibly, Europe.

Mon petit doigt me dit que Vladimir Poutine approuverait la stratégie énergétique du PQ… Just saying…