Tags: energy | china | natural | gas | fracking

Energy Official: China's Shale Could Benefit Natural Gas Markets

Thursday, 25 Jul 2013 05:28 PM

By Dan Weil

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink
It's possible that China will "wreak havoc" on natural gas markets around the world if it is able to develop its shale supply, said Energy Department Counsel Melanie Kenderdine.

While that potential lies 10 to 15 years down the road, it could be beneficial to the United States and the rest of the world, loosening Russia's tight grip on global natural gas markets, she said at an event sponsored by the Bipartisan Policy Center in Washington, D.C., on Thursday, The Hill reports.

"That will affect Russia," Kenderdine said, offering "an enormous opportunity for the world." Shale supply in Africa and Eastern Europe could do the same, she said.

The main issue for China is how easily it can extract shale gas. The nation is far behind the United State in production technology, and its deposits aren't near water.

In the United States, shale gas has gushed amid the use of hydraulic fracturing (fracking), which requires huge water supplies. Fracking injects a mixture of water, sand, and chemicals into rock clusters to reach buried oil and natural gas.

Already the U.S. boom has affected international energy markets, pushing down prices, Kenderdine said.

Chevron hopes to bring the fracking industry to Eastern Europe, Bloomberg reports. "This resource could certainly enhance energy security within Europe and also bring enormous economic benefits," said Chevron vice president Ian MacDonald.


© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Sony Lawyer: 'The Interview' Will Be Distributed

Sunday, 21 Dec 2014 13:55 PM

Sony Pictures lawyer David Boies said the satirical movie The Interview will be distributed eventually, though it isn' . . .

Rubio: Obama's Cuba Policy Change Will Not Lead to Freedom

Sunday, 21 Dec 2014 12:38 PM

Sen. Marco Rubio says he has no problem with changing policy with Cuba, but says he wants to do something that will brin . . .

McCain: Obama Doesn't Understand Hacks Are Warfare

Sunday, 21 Dec 2014 11:44 AM

Sen. John McCain, the incoming Chairman of the Senate Armed Services Committee, said President Barack Obama doesn't unde . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved