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The article discusses the problems and prospects for the development of he shale oil and gas industry in a number of countries in North America, SHAPE \\* MERGEFORMAT the Asia-Pacific region, the EU, as well as in Russia. Wide geographical coverage allows a comprehensive study of the issue. The article is aimed at identifying factors that contribute to the development of the shale industry in the studied countries by comparing the oil and gas market conditions and the economic environment of a particular country (including the financial aspect). Analyzing the identified factors and policies of the studied countries in relation to the shale industry, the authors identify the most efficient trends for the development of the industry. The research methodology is based on the assessment of shale oil and gas reserves and export statistics, as well as financial market conditions and environmental standards due to their strong impact on the industry. Based on the obtained results, including the impact of the shale revolution on the economy, environment and public opinion, the authors have forecasted the development of the shale industry in the studied countries. Further, the authors have developed three scenarios that describe the future of the shale revolution. The most likely scenario, provided that more environmentally friendly production practices appear, is the further development of the shale industry in countries where the shale revolution was a success, as well as a further change in the global energy balance. Exporters of traditional oil and gas will have to compete with new players - exporters of shale resources; consumers will be in the most favorable position due to lower prices. Key players in the shale oil and gas market will have to develop new technologies to reduce the negative external effects of the industry. |
