Justin Jacobs, LONDON: ExxonMobil has sounded a note of caution on the scale of Europe’s shale-gas potential and the pace of development, but said some production is possible within five years.
“We won’t know the real potential of unconventional gas here in Europe until the exploration phase is completed and we are still in the very early stages. Until that time, the high resource numbers quoted by others have to be viewed as highly speculative,” Kevin Biddle, ExxonMobil’s exploration director for Europe, Russia and the Caspian region, told the International Petroleum Week conference.
The US Energy Information Administration (EIA)...