And now, you know what the U.S. involvement in the Syrian Civil War is really all about.
Without a direct pipeline link to Europe, that gas is just too expensive to tanker around, with so many other sources opening up.
Oddity in the story.
Shell has recently exited their shale holdings, so this is not about “better opportunities elsewhere in shale”.
The oil majors have invested enormous money over the past 5-10 years and seen their oil production barely creep up globally. In comparison to the 10 years prior when investment of about 1/6th the amount yielded oil output 10X higher. A lot of major programs are being shut down. They cost too much and don’t yield results. The majors are conserving cash to meet their quarterly dividends.
Scarcity. Get used to the word. It defines the future.