The steep growth of shale gas production in the US and other countries known as the shale revolution means not only risks but new opportunities for Russia, IEA chief economist Fatih Birol has said. He said that the leading suppliers of natural gas have been losing their former role as a result of the shale revolution.
Russia may face more competition due to the continuing diversification of supplies and the emergence of new exporters such as Australia and North America, as well as new suppliers of natural gas.
At the same time, said Birol, the continuing development of unconventional gas resources is likely to increase trust in gas as a reliable energy source so the role of gas in the global energy supply structure is set to grow. This is good news for such big suppliers as Russia, said Birol.
He also opined that as a result of the shale…
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