Like the UK, Clyde Russell comes from a small island off a large continent, in his case Tasmania. But he’s been writing some great stuff from his vantage point looking at the other great disruption of the 21st century in world natural gas, the emergence of Australia as a second Qatar in its potential for LNG exports
For those who haven’t been looking at it, i.e. just about everyone outside of the global LNG industry, this comes as a surprise. Australia’s LNG capacity has taken even longer than the US shale industry to reach serious production and at a far higher cost.
Continue reading Natural gas turns the world upside down: A depressingly familiar tale.
Sometimes, as the fable goes, the tortoise beats the hare. While we’re not going to beat the US anytime, we may see some good come out of the UK’s interminable shale process after all. This could mean an acceleration of UK shale development using technological developments unthought of when the first resources of the Bowland Shale were hinted at five years ago.
This could lead to UK shale development, founded on a stringent but fair license regime supported by national and local government producing faster, better and cheaper. Perhaps we haven’t wasted the past five years after all. In some ways, everything that could possibly go wrong, went wrong in the UK, but at the same time in the US everything went almost impossibly right. Production has increased prodigiously in the US to levels undreamt of by even the most optimistic. At the same time, production costs and impacts just keep on getting better. This is an example of recent developments as shown by just one of many US operators, Concho Resources, active in the Permian Basin of West Texas and New Mexico:
Continue reading UK Shale: Worth the Wait?