US Energy Firms Eye Brazil Shale Gas: US Official
From Gulf News
Brasilia: US energy companies want to use their experience to help Brazil tap into its vast shale gas reserves, US Energy Secretary Ernest Moniz said on a visit to the Brazilian capital.
Studies show that one-tenth of the world’s known shale gas reserves are in Brazil, and if it decides to exploit them the South American giant — currently a gas importer — could be the world’s second natural gas producer.
Shale gas production could be viable only by 2023 assuming that investments begin now, a representative of the state-run National Petroleum Agency said in May.
The United States “clearly today has the most experience in this area,” Energy Secretary Ernest Moniz said at a press conference on Friday in Brasilia after a meeting with Brazilian industrialists.
Shale gas is extracted by a controversial technique known as hydraulic fracturing, or fracking.
Fracking has unlocked an energy boom in the United States, but has been banned in other countries over fears of environmental damage.
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