Frost & Sullivan: Shale Gas Will Reshape World Energy Markets

Frost & Sullivan: Shale Gas Will Reshape World Energy Markets PR Newswire LONDON, Sept. 12, 2012 - In a new study our analysts look at how this source will have an impact on both energy and chemicals industries with geopolitical repercussions LONDON, Sept. 12, 2012 /PRNewswire/ -- Of all energy resources, oil and coal dominate global consumption. 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. A new study by Frost & Sullivan titled "Analysis of the Global Shale Gas Market" examines the impact of shale gas on the chemical industry and looks at the shale gas market as a whole. "The rapid development of shale resources is set to change dramatically the current energy assets globally," says Frost & Sullivan Consulting Analyst Michael Mbogoro. Europe will, in the long term, decrease the region's dependence on supplies from Russia and the Middle East, thus reducing their dominance in energy markets. It is likely to also give rise to new geopolitical alliances at the expense of old. Most demand in Asia will come from China and Japan, following China's insatiable energy needs (as a result of rapid growth) and Japan's expected increased dependence on natural gas following the Fukushima nuclear disaster.