Shale tsunami: the virtual pipeline funnelling oil to Europes shores
A virtual tsunami of us liquid shale gas is about to wash up on Europe’s shores. And with it comes the simplest chance in decades for Europe’s high energy prices to be reduced. Nnamdi Anyadike investigates.
The United States shale gas revolution that just 10 years past overturned decades of guzzling of imported fossil fuels is currently reaching Europe. On one Sept the primary of a new fleet of eight Chinese-built liquid ethane carriers – known as the Dragon class of ships – the INEOS intrepid, left the Houston Ship Channel on its maiden voyage.
The intrepid is one of four Dragon-class vessels that have already been delivered. Over the next year, another four are built and launched. The ship was bound for the Swiss-headquartered chemicals company INEOS’ Rafnes cracker website in norway, carrying 265,000 barrels of us ethane derived from shale gas. some weeks later, on 28 Sept, Intrepid’s sister ship, the INEOS Insight, docked at the INEOS website at Grangemouth, bringing United States ethane to the uk for the primary time.
And INEOS isn't the only downstream company that is turning to United States ethane. Sabic and Borealis have also committed to bringing in United States shale gas.