In mid-2010, the World Energy Council published a comprehensive report on shale gas. Given the slow pace of change and long lead-times typical to the energy sector, it is amazing to note how different the global outlook for shale gas is today compared to last year.

A widely anticipated global gas market revolution has not happened outside of the United States. Moreover, a number of important issues which need to be addressed sooner rather than later have emerged and obscured the rising star of shale gas.