Maria van der Hoeven, chief executive of the International Energy Agency (IEA) has said a surge in US oil and natural gas production has lifted hopes about North American energy security, but that growth will plateau and will be difficult to replicate elsewhere, Christian Science Monitor has reported. “There are some people who really think they can replicate the US shale gas boom,” Van der Hoeven said. “It’s not as easy as that,” she noted. The US is awash in hydrocarbons, the result of good geology, supportive prices, a favourable regulatory and investment climate, and technology innovation, she said. “But we also mentioned [in an IEA analysis] that this growth would not last – that it would plateau, and then flatten and go down. That means that from 2025 onward, it’s again Saudi Arabia and the Gulf states that will come back. Because of the changing trade map, this oil will almost completely go to Asia – China, India, Korea and Japan.”
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