The role of shale gas in north american and global power. Investment is already underway to characterise, quantify and develop shale oil resources outside the us, for example, in argentina, russia and china5. In 2015, the united states produced some 37 billion cubic feet per day of. There are many categories and classifications of resources.
A recent report from us energy information administration says that shale based resources could potentially increase the world. This paper responds to these needs by describing the importance of shale gas in meeting the future energy needs of the united states u. All energy production creates safety and environmental risks. The charts below outlines the top ten countries with the largest resources of shale oil and shale gas as per this assessment.
Global gas report 2018 2 natural gas is in the midst of a rapid growth phase. Jan 19, 2020 global demand for gas rose more sharply than in any year since 2010, by 4. The resource assessment of shale gas and shale oil is performed within task 7 of the. The proliferation of activity into new shale plays has increased shale gas production in the united states from 0. The main difference between tight gas and shale gas, however, is that tight gas can be found in low permeability sedimentary rocks, such as sandstones, while shale gas rocks are usually impermeable royal dutch shell plc.
Nick sharma and kunfeng zhu join upstream in perspective to assess the current and future state of china shale and tight gas. List of countries by recoverable shale gas wikipedia. Ground water protection council and all consulting. With climate policy, lowcost natural gas can reduce the nearterm costs of further displacing coal. The natural gas game changer the development of shale gas plays has become a game changer for the u. The capital expenditures, revenues and results of operations, oil reserves, and gas reserves reported by exxonmobil for 2010 include activity related to the operations acquired from xto energy. In an initial assessment of shale oil resources and an update of shale gas reserves, the us energy information agency said shale deposits could add 345 billion barrels of oil to global.
This website highlights conventional and unconventional continuous oil and gas resources such as shale gas for more than 170 basins. Currently the us case provides evidence that shale gas can play a positive role in reducing greenhouse gas emissions, part of a larger global narrative about whether and how natural gas can serve as a fuel of choice in the energy transition. Pdf this study reveals the current problems and prospects of developing shale oil. May 25, 2015 this statistic depicts the volume of technically recoverable shale gas worldwide by region, as of 2015. Natural gas has constituted an important component of the global energy mix and unconventional natural gas reserves, that include shale gas reservoirs, have recently been regarded as alternative. Prospects for shale gas development in asia center for. Based on data from bp, at the end of 2009, proved gas reserves were dominated by three countries. Resource estimation of shale gas and shale oil in europe.
An april 2011 assessment of international shale gas resources by the u. Shale gas has become an increasingly important source of natural gas in the united states since the start of this century, and interest has spread to potential gas shales in the rest of the world. The countrys gas reserves have geologic similarities to its neighbor poland, and the lublin basin could be 10 to 15 times the size of the barnett shale. Global oil and gas reserves study ey united states. Lower gas and oil prices encourage greater consumption, increasing co2 emissions. List of countries by natural gas proven reserves wikipedia. Lower and less volatile prices for natural gas in the past. A surge in gas production and use may prove to be both the cheapest and most effective way to hasten the decarbonisation of the world economy, given the cost and land requirements of most renewables. Relatively new, unconventional supplies of natural gas including shale gas, tight gas and coalbed methane also known as coal seam gas could transform the worlds energy markets. The authors would like to thank ecssr for sponsoring this research. When new shale gas fields in the us are constrained by the capacity of the existing oil and gas pipeline network, it results in bottlenecks and low prices at the production site.
Shale gas exploration and production key issues and. National and global petroleum assessment assessment of undiscovered continuous oil resources in the wolfcamp shale of the midland basin, permian basin province, texas, 2016 u sing a geologybased assessment methodology, the u. Soon, oil had replaced most other fuels for motorized transport. The 2012 world energy council survey of energy resources. Shale gas processing equipment market 2019 global industry. Geological survey assessed technically recoverable mean resources. Since the beginning of 2012, there have been a number of announcements, from argentina. An outlook of china shale and tight gas ihs markit. Shale gas, oil reserves outweigh conventional stock, study.
The list of countries where fracking could unlock oil and gas reserves grew this year. China becomes worlds thirdlargest shale gas producer. Shale gas market pdf report study from 2020 to 2029. Oil reserves denote the amount of crude oil that can be technically recovered at a cost that is financially feasible at the present price of oil. Jun 10, 20 shale based resources increase the worlds total potential oil reserves by 11 percent and natural gas by 47 percent, according to a us report released monday. In accordance with the gecf statute, the organization aims to support the sovereign rights of its member countries over their natural gas resources and their abilities to develop, preserve and use such resources. The usgs assesses potential for undiscovered oil and gas resources in priority geologic provinces in the world. Responsible shale development enhancing the knowledge. The shale gas subcommittee of the secretary of energy advisory board is charged with identifying measures that can be taken to reduce the environmental impact and improve the safety of shale gas production. Led by new applications of hydraulic fracturing technology and horizontal drilling, development of new sources of shale gas has offset declines in production from conventional gas reservoirs, and has led to major increases in reserves of us natural gas. Rbl structure provides funds for the drilling and expansion of oil and gas reserves.
Discovery of new shale gas basins in china, australia, etc. Global natural gas production increased by 190 bcm, or 5. Nov 21, 20 relocating chinas foreign reserves qiao yu thursday. Currently, most of the worlds shaleoil is coming from the. Jun 25, 20 how shale gas can slow global climate change shale gas has done much to reduce us emissions as the nation shifts from coal to natural gas, holland writes, but the us is exporting record amounts of. The role of shale gas in north american and global power markets.
China has become the worlds thirdlargest shale gas producer, after only the u. Technically recoverable shale oil and shale gas resources. Global shale oil resources are estimated at between 330 billion and 1,465 billion barrels 4. The extent to which shale gas will be a larger component of the. Natural gas prices since 1985, natural gas prices have been set by the market. Natural gas markets and global gas resources organization for economic cooperation and development oecd richard newell, administrator june 21, 2011 paris, france. Comparison of the 2011 and 20 reports ari report coverage 2011 report 20 report. The chinese central government strongly supports shale gas production and incentivizes it with a number of policies. Success in the barnett shale of central texas, usa, launched a new way of thinking about shale source rocks. Energy information administration cited technically recoverable shale gas resources not reserves in china at 1,275 trillion cubic feet tcf and in india at 63 tcf, compared with 1,250 tcf for the united states and canada combined. In total, the report assessed 48 shale gas basins in 32 countries, containing almost 70 shale gas formations.
Since 2010, average global gas consumption has grown by 1. Shale gas is the term often used to describe both tight gas and shale gas resources. These assessments cover the most prospective shale gas resources in a select group of countries that demonstrate some level of relatively nearterm promise and for basins that have a sufficient amount of geologic data for resource analysis. Antonio jose da costa silva ist partex oil and gas. Production of shale gas worldwide by country 2040 statista. National and global petroleum assessment assessment of. Unconventional resources development managing the risks.
This is the first usgs assessment of continuous resources in the wolfcamp shale and bone spring formation of the delaware. Hence reserves will change with the price, unlike oil resources, which include all oil that can be technically recovered at any price. While global gas reserves have been growing steadily for decades, over the last decade, the socalled unconventional gas. Barnett, fayetteville, haynesville, marcellus multidisciplinary team of geoscientists, engineers, and economists. The report includes indepth countrybycountry analyses, including data on shale gas reserves, the legal and fiscal regimes in place and their likely impact on exploration and production, as well as detailed maps of major shale gas plays around the world, together with graphs and tables laying out key information in an easy, ataglance format. It has four times the oil as the bakken field in north dakota. The institute of directors iod conservatively predicts that the countrys onshore shale gas reserves. The bgs report uses one of these, the gas in place gip which is an estimate of the total amount of gas that is trapped within the shale rock. Pakistan confirms recoverable reserves of 200 tcf of natural gas, 58bn barrels of oil in its shale structure.
Unlike the operational improvement of shale oil and gas companies, which has been the object of many studies since the oil price crash, efficiency gains realized on the financialside of the. Area uncertainty classification for areas with global mapping of the maximum shale. Pdf increased shale gas and shale oil production in the usa will affect global geopolitics and national security considerations. The shale gas shock global warming policy foundation. Elsewhere, though, increased production of shale gas looks inevitable. Natural gas in africa the frontiers of the golden age.
Figure 2 shows that 57 percent of the firms participating in the survey are engaged. In that time, the global gas industry has gone through a significant transformation, characterized by the north america shale. Its about twothirds of the nations total shale reserves. The automobile industry developed at the end of the 19th century, and quickly.
Even in the face of the current shale gas boom, however, questions are raised about both the economics of this industry and the wisdom of basing future environmental policy on projections. But as oil and gas production from conventional sources continues to decline, the local price of natural gas relative to other energy sources will dictate whether the. Figure 2 shows that 53 percent of the firms participating in the survey are. A global resource producing commercial quantities of natural gas from organicrich shales was uncommon a decade ago. Asiapacific led the growing demand in 2018 with an increase of 6. World shale resources grow with reserves in new countries. The global shale gas production is expected to grow from 5,563 billion cubic feet in 2016 to 8,400 billion cubic feet in 2025 at cagr of 4.
Tinker, 2014 global demand shale gas and electricity. National and global petroleum assessment assessment of undiscovered continuous oil and gas resources in the wolfcamp shale and bone spring formation of the delaware basin, permian basin province, new mexico and texas, 2018 introduction in 2018, the u. Iea world energy outlook 2009 tinker, 2014 5 10 15 20 25 30 f 0 0 50. The term technically recoverable resources correspond to the quantity of oil and natural gas that could be produced with. Globally, current estimates of technically recoverable shale gas resources could increase overall global natural gas resources by more than 40 per cent. Shale gas discoveries are potentially changing the game. World energy outlook, projects that by 2035 several new oil types will replace the loss of nearly onehalf of global conventional oil production. Wilson fellow in energy studies and director of the energy forum at the baker institute, as well as associate director of the rice energy program. Unconventional gas a global phenomenon world energy council. Baker iii institute for public policy, rice university amy myers jaffe is the wallace s. Technically recoverable shale oil and shale gas resources eia. The bone spring formation was assessed for conventional oil and gas resources in 2007 schenk and others, 2008. Assessment of global unconventional oil and gas resources. Numbers for the estimated amount of recoverable shale gas resources are provided alongside numbers for proven natural gas reserves.
Absent climate policy, longterm emissions trends are similar with or without the shale revolution. Jun 10, 20 in an initial assessment of shale oil resources and an update of shale gas reserves, the us energy information agency said shale deposits could add 345 billion barrels of oil to global reserves. The federal government sets the price of transportation for gas that crosses state lines. While many examples and practices are drawn from experience in the us, this note is intended to be relevant to a global audience. Reserves may be for a well, a reservoir, a field, a nation, or the world. Shale gas is natural gas that is found trapped within shale formations. Global strategic influence improve environmental quality. The status of world oil reserves 3 acknowledgments this essay is an excerpt from a longer monograph titled the status of world oil reserves and implications for the gulf published by the emirates center for strategic studies and research ecssr. Technically recoverable shale gas globally by region 2015. These is a lot of uncertainty in these resource numbers, and one of the goals of the current paper is to provide an estimate of shale gas resources in china, including the cost of its. Sep 25, 2015 world shale resources grow with reserves in new countries. The principles guiding chinas shale gas policies are set forth in the shale gas fiveyear plan march 2012, which commits to production incentives, accelerated permitting, improved infrastructure and technology innovation. The study objective was to quantify net water use for shale gas production using data from texas, which is the dominant producer of shale gas in the u. With the advance of extraction technology, shale gas production has led to a new abundance of natural gas supply in the united states over the past decade, and is expected to continue to do so for the foreseeable future.
According to the eia evaluation in 20, globally, shale gas. The new global shale gas resource estimate is 10 percent higher than the estimate in the 2011 report. Shell has signed on to explore an area that government estimates indicate could have 1 bcm 4 tcf in reserves. Osullivan,b and sergey paltseva abstract the emergence of u. Nov 27, 2019 press release shale gas processing equipment market 2019 global industry trends, statistics, competition strategies, revenue analysis, key players, regional analysis by forecast to 2025. China is promoting the exploitation of domestic shale gas resources 9,10,11,12, which is estimated as the worlds largest technically recoverable shale gas reserves. The techniques used there were applied to other north american basins where conditions were favorable for. Energy information administration, annual energy outlook 2015 assumptions report. A significant proportion of shale gas resources exist in countries with limited conventional gas supplies or where they have largely been depleted, such as in china, south africa and europe. Jan 29, 2020 published via wired release marketresearch. In this regard, important developments have occurred in the united states of america since the mid2000s. Biz has brought concise research on global shale gas market which depicts precious insights related to. Shale gas in the united states is rapidly increasing as an available source of natural gas. Shale gas development in latin america shale gas is revolutionizing the global energy landscape and the impressive size of proven reserves puts the western hemisphere in an enviable position to capitalize on new realities.
This is a list of countries by recoverable shale gas based on data collected by the energy information administration agency of the united states department of energy. Carbon footprint of global natural gas supplies to china. Geological survey usgs completed a geologybased assessment of undiscovered, technically. Almost half of this came from the us 86 bcm, which as with oil production recorded the largest annual growth seen by any country in history. While global gas reserves have been growing steadily for decades, over the last decade, the socalled unconventional gas bonanza has roughly doubled the resource base that can be. The status of world oil reserves 4 about the authors amy myers jaffe wallace s.
Quantifying the exploitable amount of shale gas reserves within the uk is challenging, but in may 2012, dart energy international reported a best estimate of shale gas reserves onshore of 66 trillion cubic feet. This statistic shows the production of shale gas worldwide by selected country in 2015, with projected figures for 2040. For more see shale gas and oil reserves shale gas appears to have high initial production rates but then steeper decline rates than conventional gas wells, and there is a high degree of variability within shale plays. Largely due to shale gas discoveries, estimated reserves of natural gas in the united states in 2008 were 35% higher than in 2006. This is a list of countries by natural gas proven reserves based on the world factbook when no citation is given. Shale drilling site in pennsylvania photo helge hansen statoil. This paper evaluates the recoverable unconventional oil and gas resources around the world, reveals main controlling factors and potential regions for the rich accumulation of unconventional oil and gas, and standardizes the classification of seven types of resources i. Iran, russia, and qatar, which together held nearly half the worlds proven reserves. Shale gas special report petroleum economist store.