Europe told it risks missing shale boom

Europe risks losing new petrochemical investments to the US and other countries because of its reluctance to embrace shale gas, the head of the industry's biggest company has warned.

"Some European countries already made the decision not to go into shale gas, so naturally when they do that there will not be development," said Mohamed al-Mady, chief executive of Saudi Arabia's Sabic, the world's biggest petrochemical group by market value. "I think the trend you will see [is] more investors going to North America, China and the Middle East" ... READ MORE

Released by the Financial Times - 26 December 2013