japan's nuclear crisis likely to boost demand , page-2

The following details, from the Oil & gas Journal this week, on shale gas emphasizes the need for a market for this resource at:

http://www.ogj.com/index/article-display/0531883503/articles/oil-gas-journal/drilling-production-2/20100/april-2011/world-shale_gas_resources.html?cmpid=EnlEDApril72011

In part

"World shale gas resources outside US assessed
Initial estimated technically recoverable shale gas resources in the 32 countries assessed in an Apr. 5 report is 5,760 tcf compared with the 862 tcf in the US. The report was commissioned by the US Energy Information Administration from Advanced Resources International Inc. (ARI)."

This estimate does not include many known deposits such a those in China which are currently being developed/assessed.

see article at:

http://uk.reuters.com/article/2010/12/27/uk-china-gas-shale-idUKTRE6BQ07W20101227

in part:

"PetroChina (0857.HK) and Royal Dutch Shell (RDSa.L) have started drilling the first evaluation well in a shale gas block in China, China Petroleum Daily reported on Monday, 13 months after the two firms inched a joint exploration agreement."

Beijing wants natural gas to account for 10% of the nation?s energy mix by 2020, up from 3% in 2005. It is most unlikely that they will be able to produce this huge quantity of gas within China; this presents a huge potential for producers with large reserves which is why the ICN contract with the Chinese makes sense; but, India is also actively seeking supply, and have vast sums to invest in co-operative ventures.

Both articles omit to mention the environmental problems that exist in many of the deposits which do not appear to present a hurdle in the Nappamerri Trough in which ICN, BPT and ADE have interests.