Shale Gas May Account for 45% of European Output of Fuel by 2035

Shale gas may account for 45 percent of production of the fuel in Europe excluding Norway by 2035, management consultant A.T. Kearney said, citing a study.

Europe sits atop about 7 percent of world recoverable shale gas reserves and may produce as much as 58 billion cubic meters in 2035, A.T. Kearney said in a statement. Production won’t be economical in most countries until 2017 or 2018 because costs will exceed market prices, the group said.

“The business with shale gas is a long-term, capital-intensive and risky project,” Kurt Oswald, the main author of the study, said in the statement. Poland and Ukraine will lead Europe, partly because of political backing, the group said.

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