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Policy & Regulation

Paradigm shift in global energy order underway

The surge in North American hydrocarbon production and dwindling need for energy imports has set the groundwork for greater economic and policy engagement for US in the Asia Pacific region The surge in North American hydrocarbon production and dwindling need for energy imports has set the groundwork for greater economic and policy engagement for US in the Asia Pacific region.
By James Byrne and David Lore 15 May 2013 Americas / Exploration & Production 0 1999
Some LNG plants in the US may have to be converted to terminals. (Golden Pass LNG)

The North American hydrocarbon renaissance is an “extraordinary development”, set to upend world markets and reset geopolitical relations, the former United States Ambassador Jeffrey A Bader said in Shanghai on Tuesday.

“It is an extraordinary development,” Bader said of the US shale gas and tight oil boom, echoing a similarly buoyant statement made by the International Energy Agency (IEA) in London on the same day. “Within a few years, we will be importing very little oil and gas from the Persian Gulf,” said Bader.

Now a senior...