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Global Shale Revolution: Successes, Challenges, and Prospects

Author

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  • Valery Salygin

    (Moscow State Institute of International Relations (University) of the Ministry of Foreign Affairs of the Russian Federation, Moscow 119454, Russia)

  • Igbal Guliev

    (Moscow State Institute of International Relations (University) of the Ministry of Foreign Affairs of the Russian Federation, Moscow 119454, Russia)

  • Natalia Chernysheva

    (Moscow State Institute of International Relations (University) of the Ministry of Foreign Affairs of the Russian Federation, Moscow 119454, Russia)

  • Elizaveta Sokolova

    (Department of World Economy and World Finance, Financial University under the Government of the Russian Federation, Moscow 125993, Russia)

  • Natalya Toropova

    (Department of World Economy and World Finance, Financial University under the Government of the Russian Federation, Moscow 125993, Russia)

  • Larisa Egorova

    (Department of World Economy and World Finance, Financial University under the Government of the Russian Federation, Moscow 125993, Russia)

Abstract

This study reveals the current problems and prospects of developing shale oil and gas industries in the USA, Canada, Mexico, Poland, Russia, China, India, and Australia. This approach allows a comprehensive and wide view on the industry and its geography. A brief review of the technologies implemented in the shale industry is provided. The key aim of the paper is to compare the hydrocarbon market conjuncture and economic environment (including financial), in the above-mentioned states, in order to reveal the factors contributing to the development of the industry. The methodology is based on the statistical estimation of the extraction, exports, and reserves of extractable shale hydrocarbons. The analysis given allows the forecast and estimation of the economic effects and external institutional effects of shale hydrocarbon extraction. It also contributes to the evaluation of the prospects of shale industry development in America, the EU, Russia, and the Asia-Pacific region. In accordance with the overall impact the shale revolution has had on the economies, environmental conditions, and societies of the chosen countries, recommendations are provided. The authors develop three scenarios for the future of the shale industry. The most probable scenario is a slower dissemination of horizontal drilling, as well as tight oil and shale gas extraction, with the decline of conventional reserve volumes.

Suggested Citation

  • Valery Salygin & Igbal Guliev & Natalia Chernysheva & Elizaveta Sokolova & Natalya Toropova & Larisa Egorova, 2019. "Global Shale Revolution: Successes, Challenges, and Prospects," Sustainability, MDPI, vol. 11(6), pages 1-18, March.
    • Handle: RePEc:gam:jsusta:v:11:y:2019:i:6:p:1627-:d:214821
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    References listed on IDEAS

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    1. Alessandro Roncaglia, 2017. "La rivoluzione dello shale oil e i mercati finanziari (The Shale Oil Revolution and Financial Markets)," Moneta e Credito, Economia civile, vol. 70(278), pages 173-193.
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    Cited by:

    1. Delannoy, Louis & Longaretti, Pierre-Yves & Murphy, David J. & Prados, Emmanuel, 2021. "Peak oil and the low-carbon energy transition: A net-energy perspective," Applied Energy, Elsevier, vol. 304(C).
    2. Chi Yong & Mu Tong & Zhongyi Yang & Jixian Zhou, 2023. "Conventional Natural Gas Project Investment and Decision Making under Multiple Uncertainties," Energies, MDPI, vol. 16(5), pages 1-30, February.
    3. Igbal ?. Guliev & Shota A. Geladze & Elizaveta S. Sokolova & Larisa I. Egorova, 2020. "The Prospects of Conventional and Alternative Energy Production in the Countries of the Balkan Peninsula (in the Context of Developing Economic Indicators)," International Journal of Energy Economics and Policy, Econjournals, vol. 10(1), pages 481-487.
    4. Dipen Paul & Sushant Malik & Dharmesh K. Mishra & Rushik Hiwale, 2021. "Shale Gas: An Indian Market Perspective," International Journal of Energy Economics and Policy, Econjournals, vol. 11(1), pages 126-136.
    5. Guo, Yide & Huang, Linqi & Li, Xibing, 2023. "Experimental investigation of the tensile behavior and acoustic emission characteristics of anisotropic shale under geothermal environment," Energy, Elsevier, vol. 263(PD).
    6. Kirill A. Bashmur & Oleg A. Kolenchukov & Vladimir V. Bukhtoyarov & Vadim S. Tynchenko & Sergei O. Kurashkin & Elena V. Tsygankova & Vladislav V. Kukartsev & Roman B. Sergienko, 2022. "Biofuel Technologies and Petroleum Industry: Synergy of Sustainable Development for the Eastern Siberian Arctic," Sustainability, MDPI, vol. 14(20), pages 1-25, October.

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