Unconventional Gas: Strong Growth in Drilling & Production Forecast

Tuesday, October 04, 2011
Chart: Production Excluding America

Douglas-Westwood has published the first edition of its Unconventional Gas: World Production & Drilling Forecast – a study which details the multi-billion dollar opportunities in this rapidly developing energy sector through to 2020.


Andrew Reid, CEO, commented, “Douglas-Westwood forecast strong and continual development in the unconventional gas sector in Europe and Asia-Pacific, following the success of the now well established shale gas  sector in North America.” Reid continued, “By 2020, Douglas-Westwood forecast the global production of unconventional gas will reach almost 800bcm, up from 450bcm in 2011.” Although production outside North America is currently low, exploration activity has increased dramatically in recent years in countries such as Australia, China and Poland. Global energy market conditions have made unconventional gas development economically feasible, but commercial production in Europe is not expected until at the least the middle of this decade.


The role of natural  gas in the world’s primary energy mix is set to grow ever-more important in the coming years. With gas consumption growing relative to oil, natural gas production will increase dramatically in future decades. Natural gas is being touted as a bridging fuel towards a low-carbon world, while lingering doubts around long-term supply of oil are also fueling gas demand. Within this climate, the development of unconventional gas can be viewed as gamechanging. The reserve size and location of gas (along with the prevailing conditions) mean in the coming years unconventional gas development may have an effect on the world similar or greater than that of LNG.
 

Report author, Joseph Dutton, concludes, “Since 2010 in excess of $70bn has spent on M&A transactions involving unconventional gas operators and service companies. With the majority of these in the North American market, investment has since turned to development opportunities in Europe and Asia-Pacific. The growing importance of natural gas in the global energy market ensures that unconventional gas will play a fundamental role in primary energy production in the future.”
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Offshore Casualty: Harkand Group Collapses

As the prolonged slump in energy prices continues to drag on a number of oil and gas and maritime players, word has it that Harkand Group has succumbed, according to staff reports and a report on www.

Louis Dreyfus, Amaggi Hire HSBC to Sell Terminal Stake

Agricultural commodity traders Louis Dreyfus Co B.V. and Amaggi Group have hired HSBC Holdings Plc to sell part or the entire 25 percent stake they hold in a terminal at the Brazilian port of Itaqui,

Shell Presents Crewmember Safety Awards

Shell Shipping and Maritime, Americas recently held its third annual Goal Zero Hero Awards dinner in Houston, recognizing the crewmembers of 21 contracted/chartered vessels,

Energy

Egypt to receive first LNG shipment from Rosneft in May

Egypt will receive the first of five agreed shipments of liquefied natural gas (LNG) from Russia's Rosneft this month, an official at the state gas board EGAS told Reuters on Thursday.

DNV GL 7 JIPs in North America

In a concerted drive to find smart solutions to safely reduce complexities and cost in the North American oil and gas industry, DNV GL is leading seven new joint

Dryad Maritime Unveil WxConnect

Today, 5th May 2016, Dryad Maritime release WxConnect, a new scalable, managed weather forecasting service for ships and fleets. The launch of the service comes

Fuels & Lubes

Gard Alert: Is Fuel in your Emergency Equipment Fit for Purpose?

Imagine the following scenario: It is in the middle of winter in the north Atlantic, freezing cold with rough seas, when an emergency onboard a tanker requires the crew to abandon the ship.

LUKOIL Marine Lubricants Launches Barge in Singapore

Experiencing continued success and growing demand for the supply of marine lubricants, LUKOIL Marine has launched an additional supply barge named LUKOIL Marine.

WSS Offers ‘One Stop Shop’ Approach to Bunkering

Ship operators who rely on a myriad of companies for their global bunkering needs are wasting time, money and energy, with no guarantee of standardized quality of products and services,

LNG

Egypt to receive first LNG shipment from Rosneft in May

Egypt will receive the first of five agreed shipments of liquefied natural gas (LNG) from Russia's Rosneft this month, an official at the state gas board EGAS told Reuters on Thursday.

China's CNOOC Expands Fujian LNG Terminal

China's biggest liquefied natural gas (LNG) importer CNOOC has started building two storage tanks at a receiving terminal in Fujian province for the super-chilled fuel,

Abu Dhabi Puts Fujairah LNG Terminal On Hold

Citing sources familiar with the matter, Bloomberg reports that Abu Dhabi is delaying the construction of the UAE’s first land-based LNG import terminal after

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Port Authority Ship Electronics Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1120 sec (9 req/sec)