While oil from Siberia is nothing new the vast shale resources in the Bazhenov – containing oil and gas – have yet to be exploited. But fracking technology to extract these is now available. The West Siberian basin is the largest petroleum basin in the world.
Bazhenov basin Western Siberia
The shale in Western Siberia also contains large amounts of gas. Shale gas and oil are already flowing in the US, the shale gas potential in China and India is being explored and developed and now vast reserves of oil and gas are available from shale deposits in Russia. Europe also has large deposits of shale gas but are dithering under the influence of alarmist environmentalism. They will have little choice but to join the brave new world of shale – or be left far behind.
The k2p blog 