Dubai: Positive global trends in shale gas availability will not have an immediate impact on the world economy as the level of energy consumption is rising annually by about 20 per cent globally, experts say.
However, in the backdrop of millions of people in various countries still not having access to either heating or electricity sources, shale gas and other sources, along with energy efficiency, can supplement efforts to meet the demand, they say.
Alexander Moskalenko, President and CEO of GCE Group, said as a non-renewable resource with an arguably negative environmental impact, growth in shale gas development will help.
The key is to pursue a broad energy mix to not only support growing energy demands, but also tap its great potential for new energy efficiency technology developments, he said.
"As one of the world's leading energy consulting firms, we are on the verge of new engineering and scientific developments to ensure the most efficient and economic transformation from traditional to non-traditional energy sources," Moskalenko said.
The GCE Group participated in a discussion on whether adequate fossil fuel resources will be available to support a near doubling in the size of the global economy to USD 130 trillion by 2030.
According to Johannes Penzkofer, Vice President Europe, GCE Group, latest estimates indicate that in Europe, some 75 to 150 million people live in "fuel poverty", which means there is a big need in energy efficiency consulting. ?Finding the solutions to this challenge will not only spur a more focused drive towards energy efficiency, but will also lead the world in its efforts towards energy transformation,? he said.
A WEC survey estimates that at least 4.8 trillion barrels of shale oil is available (based in only 40 countries), which is three times as high as the 1.3 trillion barrels of oil consumed so far.
Shale oil and gas is another primary natural resource that can blend with traditional energy sources, which are also limited.
This energy source is full of opportunities and challenges, including in Russia where GCE Group is the leader in energy efficiency consulting.
In the framework of the Russian State Programme Energy Efficiency and development of the energy industry the GCE Group is among those leading the drive for innovations, strategies and guidelines not only for traditional energy, but also for shale oil and gas that is rising in its global popularity as a new economic frontier, says a report.
First Published: Saturday, October 19, 2013, 13:44