Bloomberg – Putin: Russia to respond to shale gas revolution challenges

12 April 2012

Russian Prime Minister and President-elect Vladimir Putin has urged domestic energy producers to “rise to the challenge” of a changing market as shale gas output increases in the United States and Europe.

In a speech to the Duma, Russia’s lower house of Parliament, Putin noted that shale gas production may “seriously” restructure global supply and demand of hydrocarbons and called on Russia to be prepared for “external shocks” and changes to “the configuration of global markets”. According to the article, the United States overtook Russia to become the biggest gas producer in 2009 as a result of shale gas development. The significant drop in gas prices, and prospect of energy independence has led to expanded exploration in European countries such as Poland.

 

The full articles can be found here (Bloomberg), here (Business Week), here (EurActiv) and here (Platts).