Gazprom: Shale Is A Joke, And It Can't Possibly Compete With Gas

Shale Gas Basins USA

A Gazprom spokesman on Monday dismissed concerns that a growth in the production of shale gas would pose a threat to the company’s foreign sales, voicing the gas giant’s first comment on the prospect.

After gas prices surged last year and early this year, many European gas companies have begun studying the U.S. technology for producing shale gas, which may be a cheaper source of fuel.

“The speculations that shale gas is cheaper than the Russian gas are not true,” Gazprom spokesman Sergei Kupriyanov said in an interview with Russia Today television.

Read more at Oil & Gas Eurasia >>

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