* Shale gas has the potential to change global energy
supplies
* But large-scale European development not expected soon
By Dmitry Zhdannikov
Geneva, Jan 27 (Reuters) – The International Energy
Agency (IEA) wants the G20 to impose stringent rules on the
development of unconventional gas to address ecological concerns
and allow the world to have real benefits from the shale gas
revolution.
The IEA’s Chief Economist Fatih Birol told Reuters in Geneva
on Friday that it plans to publish “golden rules for the golden
age of gas” in May in which the agency will give regulatory
recommendations for shale gas, and that it will hold a meeting
on unconventional gas in Poland on March 7, inviting players
from Russia, Australia, South Africa, Mexico, and other major
gas producers.
“We will have a series of recommendations for governments,
companies and regulators,” Birol said.
“From our point of view we will monitor it (implementation
of recommendations) and we think it is a very good time for the
G20 under the Mexican presidency to follow this up and take into
consideration, as many of the G20 countries are major gas
producers”.
Birol said that the IEA, which advises industrial countries
on energy policy, aimed to look at best practices and what kind
of regulation is needed to address concerns about the industry.
The development of shale gas extraction is a potential
game-changer in world energy markets, offering the potential for
ample supplies in markets that could otherwise tighten in coming
years.
Continued…
