Arab Today, arab today mexico faces contentious shale gas bonanza
Last Updated : GMT 22:23:36
Arab Today, arab today
Arab Today, arab today

Mexico faces contentious shale gas bonanza

Arab Today, arab today

Arab Today, arab today Mexico faces contentious shale gas bonanza

Mexico City - Upi

Mexico faces a contentious natural gas bonanza as it weighs options for developing vast reserves of shale gas amid fears of huge environmental costs. Shale gas extraction involves fracturing, known in the industry as \"fracking,\" of rock formations and is feared to affect both the scenery and underground water resources. The process has spawned angry political movements elsewhere in Latin America where the reward of greater access to resources comes at a price. Peru is battling protesters over plans to drill for copper and gold in areas known to contain underground water resources. Like mining, fracking involves high consumption of water and is known to affect existing underground water channels. Despite the warnings and some government reservations, Mexico is considering a greater exploitation of its gas resources as part of plans to secure energy independence. International Energy Agency Executive Director Maria van der Hoeven told the national leaders in November that Mexico could have a bright energy future if it handled its shale gas development carefully and intelligently. \"Mexico is sitting on very large natural gas fields that could allow it to end gas imports and could give it energy independence,\" van der Hoeven said. Mexico has the world\'s fourth-largest shale gas reserves with some 680 trillion cubic feet of the fuel. Shale gas is extracted from unconventional geological formations and requires different extraction methods, including the use of pressurized fluid to cause fractures in rock layers holding shale oil or gas. Mexican Energy Secretary Jordy Herrera said the shale gas fields could assure the country\'s energy security. \"With the shale gas potential and reserves and the gas associated with crude, we should become a country with sufficient energy resources, both fossil and renewable, to achieve independence, and we could eventually export, all we need to do is make decisions in favor of the Mexican people,\" Herrera said. Although Herrera said developing the country\'s gas resources was an \"urgent\" need the project is fraught with controversy. While industry planners estimated investment of up to $10 billion would set Mexico on course for an energy bonanza, opposition to gas extraction by fracking is only just developing into a movement. The state-owned oil giant Petroleos Mexicanos is looking at various options, Herrera said. Pemex has also been in touch with Mexico\'s congress to determine if additional legislation will be required to get the ambitious plan going. Officials say incentive-based contracts that are possible under existing energy industry rules should be sufficient to govern future ventures in the field. Mexico is also in talks with U.S. officials on how best to approach legal aspects of its exploitation of deep-water gas fields in the Gulf of Mexico. Pemex officials said that Mexico initially would concentrate on developing deeper water gas reserves away from the U.S.-Mexico maritime boundary.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today mexico faces contentious shale gas bonanza Arab Today, arab today mexico faces contentious shale gas bonanza

 



Arab Today, arab today
Arab Today, arab today Ideen Belmahdy happy to be part of “ Fashion Star”

GMT 17:00 2017 Sunday ,26 February

Ideen Belmahdy happy to be part of “ Fashion Star”
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 05:33 2017 Thursday ,23 February

Oil slips but close to multi-week high

GMT 17:44 2017 Wednesday ,22 February

Gasoline 98 octane price surges LL100

GMT 15:37 2017 Wednesday ,22 February

Nakilat Posts QR 955 Million Profit in 2016

GMT 15:32 2017 Wednesday ,22 February

Laffan Refinery 2 Cost QR 3 Billion

GMT 15:31 2017 Wednesday ,22 February

Oil up 2% as OPEC chief sees higher compliance with cuts

GMT 07:00 2017 Wednesday ,22 February

Oil prices rise on high OPEC compliance with output cuts
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 13:47 2017 Friday ,24 February

Rabia Fatima reveals role of "Facebook" in her career

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday