Australia to advance in shale energy development
The U.S. shale energy revolution has led to a wave of shale exploration across the world, as governments are looking for ways to gain energy independence and cheap feedstock for a number of industries.
Many experts believe that countries like Argentina and China are capable of achieving results similar to those of the United States. Argentina is believed to have vast shale reserves but political issues in the country are preventing investment and the development of a proper infrastructure for shale projects. Investors have been focusing their efforts on Asian energy resources for years now, but in China things take time because of regulatory barriers.
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There is another player making progress in the field of shale energy. Australia not only has the shale reserves, it also has the expertise and the infrastructure to take advantage of its resources, Fuel Fix reported.
According to an analysis by Lux Research, Australia has the potential to become a major global force on the shale energy market. It may not have the vast capital available in China or the political incentives at play in Argentina, but it is more than capable of supporting successful commercial production, the report said. Among the key factors that support shale energy development in Australia are low population density at drilling areas and public support for extraction operations, the analysis said.