The Ukraine crisis has become a “wake-up call” for European governments on the need to develop local energy resources, including natural gas from shale, U.K. Energy Minister said. The use of hydraulic fracturing, or fracking, to tap shale reserves that could meet demand for decades would provide greater security of supply at a time when Russia has threatened to curb gas shipments needed to power European economies, he said in an interview in Houston yesterday. “We have to ensure that we do maximize our indigenous resources,” Fallon said. “We can’t be reliant on dodgy parts of the world.” Escalating violence in Ukraine fanned by Russian separatists has intensified calls to develop local prospects, especially in countries such as Bulgaria that are more reliant on Russian gas, he said. Russia provides about a third of the EU’s oil and gas needs, mainly via state-controlled OAO Gazprom (GAZP) and OAO Rosneft […]