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Europe's shale caution may see it waste its potential

The EU must speed up development of shale-gas or it risks wasting a valuable resource

Europe must speed up development of a shale-gas regulatory framework or it risks wasting potential resources, Philip Lowe, the director-general of energy at the European Commission said.  Lowe told Petroleum Economist that shale-gas development could drive down Europe's natural gas prices, but there needs to be greater market liberalisation and public acceptance of the fuel to make it happen. "If shale gas was available inside the European Union or its neighbours, like Ukraine, it would change the game considerably, as delivered pipeline gas in Europe still drives the price," Lowe told Petroleum Economist. "Europe's beginning to realise that it's important to get the regulatory framework r

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