Shale Gas and Europe: The Answer to Europe's Energy Security Issues?

Europe faces a very uncertain future when it comes to energy security. This state of affairs is underscored by the fact that much natural gas that is burned in Europe to power electricity generation currently comes from Russia.

This hardly thrills the European Union's policy makers in Brussels (although it probably does thrill officials at Gazprom in Moscow).

A new policy briefing by the influential Centre for European Reform (CER) provides a timely look at whether unconventional gas (UC) -- shale gas as it is often referred to in North America -- located in Europe offers a bit of a solution. In "Shale Gas and EU Energy Security" (June 11, 2010), the London-based CER considers the issue and provides an excellent overview of the differences between potential unconventional gas development in Europe and what is currently going on in the U.S.

However, the briefing concludes with a cautionary comment about the potential for UC in Europe:

"'In Europe, unconventional gas is not a game changer,' concludes one executive of a big EU gas company. UG will most likely develop in Europe, but a repeat of the US shale gas boom is doubtful."

New Report Says Europe Could Achieve 80 Percent GHG Emissions Reduction by 2050 Based on 1990 Baseline

A new report commissioned by the European Climate Foundation concludes that "by deploying technologies already commercial today or in late development stages, Europe could reduce greenhouse gas emissions by 80 percent by 2050 compared to 1990 levels and still provide the same level of reliability as the existing energy system."

The report, Roadmap 2050, says that five priorities must be set for the period 2010-2015 in order for the 80 percent reduction goal to be achieved:

• Energy efficiency must be improved
• Low carbon technologies should be invested in
• Grids and integrated market operation mechanisms need to be enhanced
• Fuel shifts in transport and buildings need to be undertaken
• Markets for commercial low carbon technologies must be established and allowed to operate in a certain and competitive landscape

The report clearly reflects one point of view -- that of a low carbon future. But one has to wonder when, if ever, the US and other developed countries will match Europe's widespread interest in implementing, rather than just talking about, a low carbon future.