Rapid US Shale Revolution Unlikely Elsewhere, Says BG Group

Senior executives at BG Group said that shale gas developments would grow gradually, predicting that the nascent industry will take longer to come to maturity in Europe than in China.

“We don’t see a big wave of shale development globally in the near term,” Matt Schatzman, executive vice-president at BG Group, said to the Financial Times, adding that widespread developments could take at least a decade.

The UK Group remains sceptical, stating that the US shale revolution will not “be fully replicated anywhere else as quickly as we’ve seen it in the US.”

The Reading-based company said that China will probably develop faster, but it will remain a major destination for imported LNG supplies. South America and Europe developments would be slower and more difficult.