Potential shale gas projects in Western Europe will not be able to compete with conventional gas projects in Russia, according to an executive with Novatek, Russia's second largest gas producer. "I am quite certain that shale certainly is real, but in terms of replicating it in Western Europe, that certainly isn't going to happen," Novatek CFO Mark Gyetvay told an IP week forum in London. "Sweeping out Russian gas, I think that's a crazy scenario," he added.
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