Shale gas from U.S. has begun shipment to Europe. The world-largest LNG carrier Ineos Intrepid has bound for Norway carrying 27,500 m3 of liquified ethane gas.
Investment inflows into oil and gas projects are dropping significantly. The investments in oil projects in 2016 is forecast to fall below £1 billion from the five-year annual average of £8 billion.
By utilizing shale gas reserves in the country, Saudi Arabia can use the now popular energy resource for local purposes and use its oil for exclusively for export purposes.
YPF enters into a shale gas project development agreement with Dow Chemical at the Vaca Muerta formation.
Sole bidder Chevron won the Lithuanian tender for shale gas exploration, the government said in a Twitter announcement.
RIL announced that it is to invest a further US$5 billion in US-based shale gas business.