Total Makes Strategic Move Into US Shale Gas Business

photo : Energy Tribune

Total has made a major move into the US shale gas market. Total and Chesapeake Energy Corporation have agreed a $2.25 billion joint venture related to Chesapeake's Barnett Shale assets

The Barnett Shale is currently the largest natural gas producing field in the U.S. and is producing approximately 50-60% of all shale gas in the U.S.

The move is highly significant for Total, with the company stressing the strategic nature of the investment, which will allow it enter the US shale gas business and to develop its expertise in unconventional hydrocarbons.

The latter point is very significant. As the attractiveness of natural gas grows, we can expect a significant increase in shale gas exploration and production activity wherever opportunities may exist. Watch this space for further news.