ABSTRACT
This chapter discusses the avenues Mexico and Colombia, as well as other Latin American countries could follow with regard to the development of extraction of shale gas. It considers the approach each of these states has taken in attempting to develop their shale resources, set against the political backdrop and changing legal landscape. The chapter analyses the constitutional position with regard to shale gas development, the regulatory framework for shale gas development, the role of the respective state oil companies in development and each state’s consideration of the environment. In undertaking this analysis, it seeks to demonstrate that for Latin American countries, there is a choice of options in developing the shale gas reserves, strong state participation as in the case of Mexico, or strong state regulation with diversified participation, as in the case of Colombia.
