- WND - http://www.wnd.com -

U.S. shale gas frenzy heats up

Posted By -NO AUTHOR- On 01/05/2012 @ 7:34 pm In Front Page,Money,U.S. | No Comments

(TELEGRAPH) — Total, France’s biggest oil and gas company, will pay $2.32bn (£1.5bn) for a 25pc stake in a shale deposit in the east of Ohio.

Meanwhile, Sinopec, China’s largest energy company, plans to invest $2.26bn to become a partner in developing five natural gas and oil fields with US producer Devon Energy.

US, European, Chinese and Indian companies are scrambling to secure a slice of America’s shale gas deposits, which experts have forecast have the potential to become a central part of the world’s energy supply over the next half century as oil reserves dwindle. A study by PricewaterhouseCoopers last year estimated that the exploration of shale deposits could generate 1m jobs in the US, a prospect that has been seized on by its supporters.


Article printed from WND: http://www.wnd.com

URL to article: http://www.wnd.com/2012/01/u-s-shale-gas-frenzy-heats-up/

© Copyright 1997-2013. All Rights Reserved. WND.com.