US gas prices set to double

Royal Dutch Shell says it expects gas prices in the US to double in the next three years.

Shell’s chief executive, Peter Voser, said gas demand in the US would rise “as coal is replaced by gas in electricity, and gas in transportation takes off.”

Peter Voser Currently “fracking”, has led to a boom in gas production in the US, creating a surplus that has depressed prices and put many operators under pressure.

However all that is set to change, with shale gas exploration, also showing “very encouraging flow rates” in China.

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