Shale gas firms take the long view

North America is still the world’s only significant producer. But explorers are stepping up activity elsewhere and a global business is emerging

From majors to minnows, energy companies are busily investing in promising shale gas reserves around the world in the hope of replicating North America’s success. As happened in the early days of drilling in the US and Canada, smaller independents have been among the pioneers in western countries with shale gas potential, such as Australia, the UK and Poland. But it is Shell, Chevron, Total and the other majors that are showing they have the clout and market access to operate in multiple arenas and gain access to the more complex prized markets, notably China. The long game As Petroleum Economist’s survey this month shows, shale gas production outside North America remains an investment for