The EU Shale Gas Revolution: Fact vs Fiction

EU Shale Gas Revolution: Facts vs Fiction ..... ........ ............. П Fiction Fact Is it worth it ? Fact - The EU has potentially sizeable shale reserves 20 years 4 years US reserves Time it took for Time spent so far US shale gas industry to reach scale drilling wells to explore shale EU reserves 17%-33% reserves in EU Fiction - shale gas is cheap and will reduce energy prices 33,500 - 67,000 wells 150-250% € greater production costs in EU per unit than in US needed across EU by 2050 to reduce prices Current no. of wells <100 90% Need to drill surface area the Size of The Netherlands to reach production level to meet 10% EU gas demand by 2030 cut in estimates on Poland's extractable reserves after initial exploration Fiction - shale gas will improve energy security The proportion of EU gas demand that shale can meet by 2030 21 of EU's 28 import 10% Russian Natural Gas countries 2-3% In theory In practice (IEA estimates) Fiction - shale gas will help to address climate change Carbon footprint of: Shale Solar Onshore Wind Offshore Wind Tidal 423-535kg 75-116g 20-96g CO2e/kWh 5-13g CO2e/kWh 5-13g CO2e/kWh CO2e/kWh CO2e/kWh could A £32bn investment in shale gas 12GW of offshore or displace 21GW of onshore wind capacity Benefits of an energy revolution driven by interconnection, energy efficiency and renewable energy 80% Reduction in gas demand by 2050 if 80% renewables in power generation mix If targets are met I 62% 45% Reduction in oil & gas dependency to (on 1990 levels) by 2020 if the EU meets 20% energy efficiency goal Savings on import costs from renewables targets €190bn €450bn from 27% target from 30% target Energy efficiency cost savings potential €1-2trillion €500bn a year by 2050 EU €460bn by 2030 from integrating the European energy grid between 2020-2030 Trillion Fund ЕЗG

The EU Shale Gas Revolution: Fact vs Fiction

shared by rebeccaoco on Mar 19
This was a collaborative project with EThreeG to support a new, data-rich report on why fracking is not the answer for the EU's future energy supply


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