Shell withdrawing from shale gas projects in South Africa
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, Royal Dutch Shell has indicated a reduced level of interest in shale gas projects in South Africa. The company cited lower crude prices and legislative uncertainty as the main reasons behind their decision.
Shell reportedly has been waiting for six years to get an exploration license in South Africa’s Karoo Basin, which is believed to hold up to 390 trillion cubic feet of technically recoverable shale gas reserves.
Sharp decreases in crude oil prices are creating greater risks for investments in unconventional energy sources such as shale gas, as these energy sources typically require higher energy prices to ensure profitability.
Shell reportedly has been waiting for six years to get an exploration license in South Africa’s Karoo Basin, which is believed to hold up to 390 trillion cubic feet of technically recoverable shale gas reserves.
Sharp decreases in crude oil prices are creating greater risks for investments in unconventional energy sources such as shale gas, as these energy sources typically require higher energy prices to ensure profitability.
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