[miningmx.com] – SHELL South Africa chairman Bonang Mohale confirmed media reports that the company was scaling back its investment in shale gas exploration activities following a review of projects worldwide.
Business Times, a weekly newspaper, said that Shell had “given up on the [South African] government getting it together any time soon”, referring to adjustments to the Mineral and Petroleum Resources Development Bill or release regulations for hydraulic fracturing, or fracking.
Bonang told BDLive that Shell had “critically reviewed the competitiveness” of its projects and opportunities worldwide. “As part of this review, we have adjusted activities in tight/shale oil and gas opportunities outside of the Americas as well as the local exploration resources, such as staffing, in South Africa,” he said.
The news is a blow to the South African government which had identified the development of shale gas as a game changer in terms of the country’s future energy sources.
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