Wall Street Daily: Fracking in EU to Significantly Impact Market

According to the International Energy Agency (IEA), Europe currently imports approximately 60% of its natural gas. That figure is estimated to grow to 83% by 2030, due to increasing demand, stronger environmental laws, and declining production from established fields.

Yet that’s all about to change. In an attempt to improve its energy independence and stimulate economic growth, Europe is now following in the United States’ footsteps and ramping up hydraulic fracturing (fracking) operations.

The impact on Europe’s energy market promises to be significant. Here’s why… Estimates from the Energy Information Administration (EIA) indicate that Europe is sitting on 470 trillion cubic feet (tcf) of unproved technically recoverable natural gas.
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