The shale gas market - France

Shale gas belongs to the natural gas family. It is extracted from shale rock underground by hydrolic fracturing and horizontal extraction. Global Industry News24 estimates that around 71% of extraction is by horizontal extraction and 29% by hydraulic fracturing (also known as fracking). Shale gas reserves can be found all over the world. The global shale gas market is growing rapidly due torising energy demand. Technological innovations in the sector are also improving its prospects. Nevertheless, this product remains highly criticized for its negative effects, the most well-known of which are the waste of water and the environmental impact on ecosystems. France's relationship with shale gas is complex; in 2017, it banned all new oil and gas exploration licenses, as well as all oil and gas extraction, with immediate effect. Critics say this decision was purely symbolic, however, since French oil and gas production accounts for just 1% of national consumption. [ AP ] When it comes to shale gas, France imports all its consumption. In 2018, France began importing shale gas from the United States, among other countries. The shale gas market has been hit hard by COVID-19 McKinsey says the pandemic has reduced gas demand by 5-10%.