A boom in unconventional natural gas over the next 20 years could see the United States and others benefit from cheaper energy while the importance of the Middle East declines, the International Energy Agency (IEA) said this week.
Growth in shale in the United States and China could match gains made in conventional gas in Russia, the Middle East and North.
An important role for gas in the future is to substitute more polluting fossil fuels such as coal in electricity generation.
The share of Russia and countries in the Middle East in international gas trade declines from around 45 per cent in 2010 to 35 per cent in 2035 due to unconventional gas resources such as shale gas. Additionally for cash strapped Europe, The main benefit will be that there will be lower gas import prices, putting pressure on oil-indexation of traditional gas supply contracts and overall displacing Russian piped gas as the main product.