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Fracking has transformed the United States into the worlds largest producer of natural gas, and now Europe is weighing the pros and cons of the controversial technique as it seeks greater energy independence from its chief gas supplier, Russia.

The move comes amid the unprecedented crisis in relations between Russia and Ukraine that began when Moscow annexed Crimea earlier this year and then threw its support to pro-Russian Ukrainian separatists battling Kiev.

An estimated 16 percent of Russian gas destined for Europe flows through Ukraine, and since Russia meets around a third of Europes demand for oil, natural gas and coal, the threat of gas supply disruptions through Ukraine has set off alarm bells in Brussels. Germany gets 40 percent of its gas from Russia; Finland, Lithuania and Bulgaria are 100 percent dependent.

A draft emergency action plan released by the EU last week says the 28-member trading bloc could attempt to break Russia's lock on European gas imports by developing domestic shale oil and gas reserves as well as investing into import routes that could bring Central Asian and Mediterranean gas to Europe, Reutersreported.

The latter might mean increasing Europes liquid natural gas (LNG) capacity in order to tap supplies in Africa, the Middle East and North America, where a shale gas boom has changed the United States from a natural gas importer to an exporter within the past few years.

Europes concerns over gas supply instability are well-founded. Over the past decade, Russia has halted the flow of gas through Ukraine three times, directly affecting eastern and southern European countries most reliant on Gazprom, the giant Russian energy monopoly.

In August, the tables were turned when Ukraine threatened to block Russian oil and gas supplies to Europe as part of sanctions against Russia, which it blames for a separatist uprising in the east of the country. A ceasefire was announced on Sept. 5 but it is unclear what effects the 12-point peace plan will have on regional energy security.

So how likely is it that Europe will developing a fracking industry on par with the United States?

The continent certainly has ample supplies. According to this Bloombergchart, the European Union has enough shale gas reserves to free the bloc from reliance on Russian energy for the nearly the next 30 years. Sweden, Denmark, Poland, Bulgaria, France and Spain have the most shale gas; Swedens reserves alone could provide 250 years of domestic production.

The big question, of course, is whether any EU governments could gain enough popular support for extracting it.

Excerpt from:
Amid Ukraine crisis, Europe weighs fracking