European Shale Revolution Will Take Decades, Says Shell’s CEO

Royal Dutch Shell CEO Peter Voser said that Europe could wait for decades to replicate American shale gas revolution. 

“This is a big hype at the moment,” Voser said on the sidelines of the World Energy Congress taking place in South Korea.

He explained that Shell’s shale gas projects are not as successful as previously though.

“We didn’t get the results which we were expecting to get in the shorter term and we will therefore have to develop this a little bit more before we can take benefits from it,” Voser said. 

Last week, Voser said the failure of Royal Dutch Shell’s huge bet on US shale was a big regret of his time as chief executive of the company. 

Voser will step down in three months, leaving the helm to downstream director Ben van Beurden.