Reuters: Opposition, disappointing data wither Europe's shale gas prospects

U.S. energy major Chevron's decision to stop exploring for shale gas in Poland has highlighted the sector's uncertain future and role in strengthening energy security in Europe, analysts said on Monday.

A shale gas boom in the United States over the past few years has reduced its energy dependence, but Europe is in the early stages of development and no commercial drilling has yet started.

The U.S. Energy Information Administration has estimated Europe could hold trillions of cubic metres of recoverable shale gas but it is still uncertain where reserves are located, how large they are and whether they are commercially viable.

In fact, revisions to estimates of technically recoverable resources, disappointing outcomes and growing opposition to shale gas have reduced the hype about development prospects in Europe.

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