The Rise of Shale Gas and Russia's Countermeasures

6 Pages Posted: 6 Sep 2013 Last revised: 2 May 2016

See all articles by Kwon Hyung Lee

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

Date Written: May 20, 2013

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

Suggested Citation

Lee, Kwon Hyung and Jeh, Sung Hoon and Kang, Boogyun, The Rise of Shale Gas and Russia's Countermeasures (May 20, 2013). KIEP Research Paper No. Word Economy Update-13-23. Available at SSRN: https://ssrn.com/abstract=2320957 or http://dx.doi.org/10.2139/ssrn.2320957

Kwon Hyung Lee (Contact Author)

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

Sung Hoon Jeh

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

Boogyun Kang

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

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