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Regional Partnerships Can Boost Shale Gas Development in Latin America

A newly released AS/COA energy report shows the United States can assist through technology transfer, expertise, infrastructure, and workforce development.

Regional partnerships and the creation of a hemispheric council would aid progress

New York, September 16, 2014—The potential for partnership between the United States and Latin America and the Caribbean in the development of the shale gas sector is significant. The United States can assist in the development of regional shale gas resources through technology transfer, expertise, infrastructure, and workforce development, explains the report Shale Gas Development in Latin America, released today by Council of the Americas' Energy Action Group (EAG).

Possessing a comparative advantage in the shale gas revolution, the United States should engage in the sector regionally at the public- and private-sector levels, the report says. This year, over 20,000 horizontal wells are expected to be drilled in the United States, compared to 250 unconventional wells in Argentina and just 10 in Colombia. In 2012 alone, investors spent $90 billion in the United States on developing shale gas; in contrast, foreign direct investment in every sector in Latin America last year totaled $180 billion.

"The establishment of a cooperative regional mechanism could be one way to encourage development of these vital resources in a cost effective, efficient, and environmentally-effective manner. The creation of a Western Hemisphere Shale Gas Council can help to coordinate best practices and exchange sectorial views at the government level," says COA's Director of Energy, Christian Gómez Jr.

View the full report here.

To speak with our experts on this topic, please contact Adriana La Rotta at alarotta@as-coa.org or 212-277-8384.

Council of the Americas' Energy Action Group (EAG) brings together the public and private sectors to develop strategic energy policies for the Americas. The EAG hosts forums in cities across the Americas and publishes working papers and recommendations on key energy and climate topics.

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