Europe cannot afford to ignore the potential of shale gas and the impact of its growth in China, an Austrian government minister has warned.
Speaking at the Keynote session which opened the POWER-Gen Europe and Renewable Energy World Europe conference and exhibition, Reinhold Mitterlehner, Federal Minister for Economy, Family and Youth, said that the success of shale gas in the US was going to be replicated in China.
“China will take after the US,” he said, and said the Asian powerhouse had twice the reserves of America and could have twice its success on the back a sustained drilling programme.
He said that Europe could not hope to emulate the US and China, but warned that “we cannot ignore the price differential” that would be created by a Chinese shale boom.
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