Big news from Asia

The big news from Asia, (sorry it's six days late!) is this from Platts:

Amid brightening prospects for increasing unconventional gas production and supply, energy ministers from the Asia-Pacific Economic Cooperation countries meeting recently recognized the need to explore ways to secure supplies coming from streams other than conventional gas.

It was arguably the first recognition of the need to develop unconventional gas at any energy ministerial talks, which underlines the potential of unconventional gas to meet the demand that is now being met by LNG, particularly in Asia.

Following a day of talks in Fukui over the weekend, APEC energy ministers agreed that the group, which accounts for about 60% of world energy demand, should pursue ways of exploiting unconventional gas sources such as shale gas. The goals: reduce carbon intensity of current demand, and enhance the energy security of their economies.

"We therefore need to evaluate the potential for unconventional gas resources to increase gas production and trade in APEC," the ministers said in a joint statement. "Enhanced natural gas production and trade, drawing upon new discoveries, can ease the transition to a low-carbon economy, since gas has a far lower carbon footprint than other fossil fuels for power generation," they added.

Wouldn't it be nice if we had something similar from the G8 or G20 or dare we suggest, from the EU? BTW, the EU is getting up to speed on unconventional very quick, so we could see something from them yet. One thing for sure, it will be long, long, long wait for any thinking like this to come from DECC.  How sad.

Can you imagine David Cameron desperately calling Alistair Buchanan to update him on shale ahead of an international summit?  How well informed would that advice be?

So, it won't just be Chinese and Indian companies in North American shale.  Although we do have Japanese investors like Mitsui in the Marcellus already, and Korea Gas (Kogas) made the biggest impact of all by going first on Kitimat way back last September,  there are going to be more.

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