ROCKVILLE, MD, February 11, 2011
/24-7PressRelease/ -- Shale gas, natural gas produced from shale formations, has the potential to dramatically impact global energy markets, according to "Global Shale Gas Technologies and Markets" by leading industrial research firm SBI Energy.
"Declining production from depleting conventional gas resources in many parts of the world, combined with rising global demand for energy and natural gas has caused dramatic increases in the price of crude oil and natural gas over the better part of the decade. This has both driven demand for shale gas and improved the economic viability of shale gas developments," says Shannon Shuflat, SBI Energy analyst and co-author of "Global Shale Gas Technologies and Markets" alongside Akash Shah.
According to Shuflat and the report, the response to these factors has been an astounding twelve-fold increase in the recorded global production of shale gas from 2000 to 2010. SBI Energy estimates that global shale gas production grew at a compound annual average rate (CAGR) of nearly 50% per year from 1,002 billion cubic feet in 2006 to 5,042 billion cubic feet in 2010.
Presently, the success of shale gas production in North America, and particularly in the United States, has triggered the exploration of shale gas resources around the world. Shale gas exploration is occurring in China, India, Poland, Germany, Spain, France, the United Kingdom, the Netherlands, Australia, Austria, Sweden, Switzerland, Italy, Hungary, Romania, Ukraine, and Argentina, among other nations seeking to lower-carbon fuels while also ensuring energy security and economic development. An earlier start and aggressive action to date indicate China, Poland, and India will likely emerge as the first producers of shale gas outside of North America.
"The confluence of growing natural gas demand and breakthrough technological advancements has made investments in shale plays attractive in recent years. Advancements in horizontal drilling and hydraulic fracturing technologies have enabled the achievement of high rates of gas production from deep, low permeability shale formations. These breakthroughs have facilitated access to some of the largest undeveloped gas resources in the world," says Shah.
Despite the severe global economic recession over the past two years, growth in shale gas production volume has continued unabated. However, the wellhead production value of global shale gas has not kept pace with production volume growth because natural gas prices have declined steeply since the recession hit in the latter half of 2008. Lower realized wellhead prices notwithstanding, the global value of shale gas production grew by nearly 35% per year from $6.4 billion in 2006 to over $21 billion in 2010. The global value of shale gas production is expected to grow by 12% annually to ultimately exceed $37 billion in 2015 and further by 9% annually to more than $56 billion in 2020.
"Global Shale Gas Technologies and Markets" includes a broad review of the global market for shale gas. The report presents the characteristics of currently identified global shale gas resources and key technologies leveraged in the production of shale gas. Environmental considerations and the regulatory landscape are discussed. Additionally, details of major U.S. shale play investments are provided along with discussion of the potential economic impact of shale development and U.S. sub-sector employment trends. Key market participants are profiled. The report provides historic and forecast global shale production 2006 to 2020. Market drivers including global energy demand, gas demand, supply, and price trends and market inhibitors are reviewed in detail. For more information, please visit: http://www.sbireports.com/Global-Shale-Gas-6071853/.
About SBI Energy
SBI Energy, a division of MarketResearch.com, publishes research reports in the industrial, energy, building/construction, and automotive/transportation markets. SBI Energy also offers a full range of custom research services. To learn more, visit http://www.sbireports.com. Follow us on LinkedIn, Facebook, Twitter and Tumblr.
For General Inquiries Contact:
Jenn Tekin
Marketing Manager
(240) 747-3015
jtekin@sbireports.com
For Report Materials Contact:
Daniel Granderson
Assistant Editor
(240) 747-3035
dgranderson@sbireports.com
---
Press release service and press release distribution provided by http://www.24-7pressrelease.com# # #
- carbon, development, economic, economy, energy, fuel, gas, government, investment, market, natural, oil, security, shale, technology
Read more Press Releases from Jenn Tekin:
