In a medium saucepan, melt 2 tablespoons butter on medium high heat. Add 2 tablespoons minced shallots. Sauté until translucent, about 2 minutes.
Add to saucepan1 cup clam juice. Boil for 5 minutes or until reduced by half.
Then add to the saucepan, 1 cup cream and 1 cup champagne. Simmer for 3 to 5 minutes. Add, sprinkle of nutmeg, sprinkle of pepper, and ¾ pound shrimp. Cook for approximately 2 minutes or until shrimp are pink.
Pour sauce over cooked pasta and toss to coat. Sprinkle with parsley and optional grated Parmesan cheese.