The International Association of Oil and Gas Producers (OGP) has commissioned Pöyry Management Consulting (Pöyry) and Cambridge Econometrics (CE) to examine the impact of potential shale gas production on energy prices and macroeconomic indicators for the EU28 countries for the period 2020 to 2050.
The success of shale gas development and production in the US has led to significant benefits in terms of lower energy prices, improved security of supply, additional employment, a more competitive manufacturing base and foreign investment. Whilst the scale of the shale gas success story in the US may not be repeated to the same extent in other regions of the world including Europe, there may still be significant potential benefits in developing shale gas resources.
This study has been conducted independently by Pöyry and by Cambridge Econometrics without involvement of the OGP members. It reflects the views of Pöyry and Cambridge Econometrics on the possible impact on energy markets of potential shale gas developments.