Shell CEO likes North American shale but doesn't see similar development in Europe

Speaking at the World Energy Congress in Montreal on Sept. 13, Shell CEO Peter Voser spoke positively about the impact of natural gas and oil shale plays in North America and South Africa. However, he was less optimistic about the development of European shale assets.

While acknowledging that the “shale revolution” has the potential to change the energy landscape, Voser said that the public and even energy experts haven’t fully grasped the extent of coming production from shale resource plays. He noted that shale players must “confront the risks” in developing shale assets, which he did not elaborate upon.

In a media briefing following his speech, the Shell CEO mentioned that his company is exploiting shale gas plays in South Africa, which he described as an area where the environment for the heavy land-use demand is acceptable to the public. In contrast, he said that Europeans would not agree to the type of land use prevalent in North America and South Africa because of the population density and cultural differences.

In a hats off to the energy sector in North America, Voser noted that more than one million hydraulic fracturings have taken place in the US and Canada without any documented instances of groundwater pollution. He added that the oil and gas industry is reliable and responsible.

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