The U.S. isn’t the only nation with interest in the development and production of natural gas resources. The potential boom extends into many other foreign nations. Some that embrace fracking technologies, and some that refuse to consider the technique.
While some countries are discovering supplies that will last decades, others question the safety of the process that have made the supplies so accessible. Take a look at what is going on in the natural gas industry around the world:
The Inter-ministerial committee in Israel said the country should export half of its natural gas.
The committee suggests increasing the amount of gas available to the economy by 7 percent. This will allow the country’s energy companies to export 57 percent of its natural gas. Despite the desire to ramp up exports, reserves equivalent to 25 years of domestic use will be set aside for the local economy.
This proposal and many other critical decisions come after the discovery of an immense amount of gas reserves found off Israel’s Mediterranean coast. Noble Energy, of Texas, and developers are pressuring Israel to export energy, while others are urging preservation of resources for domestic use.
Final decisions are a few years away.
French drillers are battling anti-fracking supporters who believe the country cannot safely extract shale gas.
Friends of Drillers, An organization of oil industry workers, posted on its website that environmentalists are “feeding fears” against developing shale industries.
This posting is the latest in a bitter battle of words that has developed between opponents and proponents of fracking.
French parliament passed a law last year banning fracking because of concerns of water contamination.
Companies like Total SA (FP) want to explore for shale gas in southern France. The company already uses fracking in the U.S. to produce gas.
So far the country has no plans to lift the ban. Shale energy and fracking will be discussed at an environmental policy conference organized by the French government on Sept. 14 and 15.
Saudi Arabian Oil Co. is developing a natural gas field in the northwestern part of the kingdom, according to reports from the newspaper Eqtisadiah.
The gas will be used for power generation in the country.
The field, known as Midyan, is expected to produce 75 million cubic feet a day of gas and 4,500 barrels a day of condensate for a 20-year period, according to MEED, the Middle East business news service. Gas from Midyan will be transported by pipeline to a power plant in the coastal town of Duba, 135 kilometers (84 miles) southwest of the field.
Completion is scheduled for 2015.
Shell plans to spend at least $1 billion a year to tap a potentially vast resource of shale gas in China.
In March Shell secured China’s first product sharing contract for shale gas.
China is estimated to hold the world’s largest reserves of shale gas.
Shell is also seeking to build a $12.6 billion refinery and petrochemical complex in eastern China. The project if completed could be the single largest foreign investment in China.
Shell is facing unrelenting competition from other companies including Exxon Mobil, BP, Total, and Chevron Corp., companies that all want to get in on the potential gold rush in China.