The Rise of Shale Gas and Russia's Countermeasures

Kwon Hyung Lee (), Sung Hoon Jeh () and Boogyun Kang ()
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Kwon Hyung Lee: Korea Institute for International Economic Policy
Sung Hoon Jeh: Korea Institute for International Economic Policy
Boogyun Kang: Korea Institute for International Economic Policy

No 13-23, World Economy Brief from Korea Institute for International Economic Policy

Abstract: The recent expansion of shale gas development in the US has been greatly contributing to the drop in natural gas prices in the country, and to job growth and enhanced competitiveness in relevant manufacturing areas such as the petrochemical industry. Since the first half of 2009, the US natural gas spot price (Henry Hub), unlike the crude oil (WTI) spot price (Cushing Hub), has been showing a steady downward trend. Lowered gas prices have been serving as cause for cost cuts in gas production, the petrochemical industry, the primary metal industry and so forth, and this is helping improve price competitiveness in the US manufacturing sector. Spot price decoupling between crude oil and natural gas has led to a change in the energy mix, with natural gas enjoying higher consumption.

Keywords: Shale Gas; Russia; Natural Gas (search for similar items in EconPapers)
Pages: 6 pages
Date: 2013-05-20
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