Shale gas makes the big ten

In the past three months, the majority of the big gas and oil industry deals have involved shale gas, it has been revealed.

According to the Pittsburgh Post Gazette, the analysis arm of New York-based PricewaterhouseCoopers has found that seven of the top ten biggest deals in oil and gas have been related to shale plays.

Furthermore, two of the transactions were regarding the Marcellus Shale natural gas formation under much of Appalachia in the US, with these agreements alone totalling $2.3 billion (£1.4 billion) of the $7.5 billion spent on shale activity.

The publication reported that fewer shale gas deals are taking place, but those that are, are worth more than previous transactions, with the average value of a deal increasing by14 per cent since 2010.

An average shale gas transaction now totals $765 million.

Meanwhile, in Stanley, Canada, protesters have surrounded equipment used in the exploration of shale gas and claim they will not move on until they have succeeded in having hydrofracking banned in the region.