Document summary
Shale gas was discovered more than a century ago, but only recently has the technology become advanced enough to make shale gas production profitable on a large scale. The rapid growth in shale gas development in the US in the last few years has raised expectations of a major new source of energy. The US experience has highlighted not only the significant investment opportunities associated with shale gas, but also a range of potential environmental and human health risks. Recent discoveries of shale gas deposits in other countries including China, Poland and the UK, make these risks and opportunities relevant on a much wider scale. This paper outlines the shale gas development process, relevant legal and policy contexts and some current trends affecting shale gas development, in particular its increasing prominence as an “unconventional” fuel source, relevant ongoing technological innovations, and recent mergers occurring in the industry. The impact of shale gas development is assessed based on several case studies.