China, Russia and Argentina has been projected the top budding venues of the world for the next shale boom, however, according to the researched analyst Australia which is one of the wealthiest country and is noted as the 12th largest economy is the next shale revolution of the world. For most of the petrochemical companies this country appears to be the most attractive to pursue tight oil & gas. In 2014 after US and Brazil, Australia has also emerged as the third top destination.
China which is noted as the fastest growing major economies have been ogled by most of the companies for shale development, as they are decoyed by the outlook of huge reserves and easy financing, nevertheless for shale players, Australia is said to have the best and attractive technology, experience and infrastructure place to drill. This country not only beats China but also Argentina which has an outgoing shale reserves. However, despite attractive government incentives Argentina has an experienced political instability.
Although Australia does not have an apparently unending development capital of China or the influential government incentives like Argentina, it has the characteristics of conducive to successful commercial production which other front major countries Argentina, China, U.K., and Poland lack behind. As per the market research, this characteristic includes existing infrastructure, low population density in key shale plays and citizens who welcome resource extraction through its long mining legacy.
To produce and export natural gas to Asia, enormous projects in Australia have been constructed to make the country more attractive for shale exploration. One of the leading oil and natural gas manufacture Chevron based in U.S.A is leading the development of two colossal LNG project at a cost of approximately USD 81 billion in Australia which will soften and vessel natural gas to energy ravenous Asian nations.
Moreover, most of the investors are gazing at the massive projects rising in Australia to produce and export natural gas to Asia where it will get a hold of soaring prices. However, in US a drastic change has been brought due to huge glut in shale oil and gas resources which has now being made for restrictions on crude oil and liquefied natural gas to be hauling up.
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