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Summary of our market study
The global shale gas market is worth billions of dollars.
Despite holding the second-largest shale gas reserves in Europe, France does not exploit this resource. A ban on shale gas exploration and extraction was enacted in 2017. 83% of people express disapproval due to perceived environmental impacts.
France is entirely dependent on natural gas imports, as evidenced by the sharp rise in shale gas imports from the United States.
Internationally, while China, Argentina, Algeria and the United States hold significant reserves, France is not.
Growing global energy demand and competitive prices have stimulated the shale gas industry.
Nuclear power accounts for 70% of the country's electricity production.
France's gas-fired power plants are concentrated in the north and northeast, and use methods such as combined-cycle power plants.
Shale gas players
- Total, France's leading energy group, is not involved in shale gas extraction in France.
- Engie, formerly GDF Suez, plays an important role in the French energy sector, particularly in natural gas distribution and energy services.
- Exxon Mobil: the American oil and gas giant is a key player in the shale gas sector, not only in the USA, but worldwide.
- Chevron: a player bringing its considerable resources and investments to bear on shale gas, particularly in the United States, where it is one of the leading producers.
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Summary and extracts
1 Market overview
1.1 Definition and introduction
Shale gas belongs to the natural gas family. It is extracted from shale rock underground by hydrolic fracturing and horizontal extraction.
Global Industry News24 estimates that around 71% of extraction is by horizontal extraction and 29% by hydraulic fracturing (also known as fracking). Shale gas reserves can be found all over the world.
The global shale gas market is growing rapidly due torising energy demand. Technological innovations in the sector are also improving its prospects. Nevertheless, this product remains highly criticized for its negative effects, the most well-known of which are the waste of water and the environmental impact on ecosystems.
France's relationship with shale gas is complex; in 2017, it banned all new oil and gas exploration licenses, as well as all oil and gas extraction, with immediate effect. Critics say this decision was purely symbolic, however, since French oil and gas production accounts for just 1% of national consumption. [ AP ] When it comes to shale gas, France imports all its consumption. In 2018, France began importing shale gas from the United States, among other countries.
The shale gas market has been hit hard by COVID-19 McKinsey says the pandemic has reduced gas demand by 5-10%.
List of charts presented in this market study
- What image do you have of shale gas?
- Would you like to see shale gas developed as an energy source in France?
- Evolution of interest in the term "shale gas
- Structure of primary energy consumption
- Size of the shale gas market
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Latest news
Service stations: TotalEnergies finalizes agreement with Couche-Tard for 3.4 billion euros - 04/01/2024
- Assets acquired by Couche-Tard: 100% of TotalEnergies service stations in Germany (1191 stations) and the Netherlands (378 stations).
- Joint venture in Belgium and Luxembourg: TotalEnergies (40%) and Couche-Tard (60%) to operate 606 service stations.
- Supply by TotalEnergies for at least five years.
- TotalEnergies has already sold its service station networks in Italy, Switzerland and the UK since 2015.
Service stations: TotalEnergies finalizes agreement with Couche-Tard - 04/01/2024
- Sale of service stations by TotalEnergies to the Couche-Tard group: 3.4 billion euros
- Total number of retail sites acquired by the Quebec group: 2,175
- In Germany: 1,191 -
- Belgium: 562
- Netherlands: 378 -
- Luxembourg: 44
- TotalEnergies will retain 40% of the assets in Belgium and Luxembourg, which will be managed as a joint venture
- TotalEnergies will supply these service stations for at least 5 years
- The Canadian retail, food and fuel group Couche-Tard operates over 16,700 stores in 29 countries and employs over 150,000 people worldwide
Engie New Ventures bets on Upstream Tech, a start-up specializing in water management - 16/12/2023
- Creation of ENGIE New Ventures (ENV): 2014
- Total amount invested by ENV: Over 250 million euros
- ENV investment areas from 2020: Biogas, hydrogen, renewable energies and decarbonization
- Upstream Tech creation date: 2016
- Upstream Tech headquarters: Massachusetts, USA
- Number of Upstream Tech employees: Around 30
- Power of ENGIE's hydroelectric fleet worldwide: 18 gigawatts, equivalent to 18 nuclear reactors.
TotalEnergies raids Station F for start-ups - 12/12/2023
- TotalEnergies has acquired four start-ups from its electricity gas pedal for a total of several tens of millions of euros: Dsflow, NASH Renewables, Predictive Layer and Time2plug.
- Dsflow, founded in 2020, offers a software solution for large multi-site electricity consumers.
- NASH Renewables is a German start-up offering a platform for optimizing renewable energy projects in Western Europe.
- Predictive Layer is a Swiss start-up specializing in machine learning and artificial intelligence solutions.
- TotalEnergies has acquired a 56% stake in Time2plug, a French start-up that installs charging stations at business sites in France.
- Together, these four start-ups employ around fifty people.
- In September, TotalEnergies also acquired Ombrea, a specialist in agrivoltaics.
TotalEnergies acquires 3 gas-fired power plants in Texas - 13/11/2023
- Purchase price: $635 million
- Power plant capacity: 1.5 gigawatts (GW)
- Size of ERCOT electricity market (Texas grid): 26 million customers
- TotalEnergies' gross installed renewable generation capacity in Texas prior to acquisition: 2 GW
- TotalEnergies Texas renewable generation capacity under construction: 2 GW
- TotalEnergies' renewable generation capacity in Texas under development: over 3 GW
TotalEnergies, gas takes precedence over oil - 27/10/2023
By 2030, gas should generate 50% of TotalEnergies' revenues, compared with 40% in 2020. TotalEnergies acquired Engie's upstream assets for $1.5 billion six years ago. LNG generated $11.2 billion in operating income for TotalEnergies last year. The internal rate of return on LNG projects is expected to eventually reach 15%. The rate of return for oil is 20%. The rate of return for renewables is currently 10%, with an eventual target of 12%. Two strategic projects for TotalEnergies, in Mozambique and Papua New Guinea, are expected to generate an additional 5 million tonnes of LNG per year from 2028, or around 8% of their current worldwide production.
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the shale gas market | France
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