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Page added on March 26, 2013

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IEA expects global natural gas revolution

Production

Natural gas is positioned to make a sustained impact on the global energy market but only if it’s developed responsibly, the IEA executive director said.

The International Energy Agency hosted its inaugural unconventional natural gas forum in Paris. IEA Executive Director Maria Van der Hoeven said unconventional natural gas development needs a sustainable and responsible approach.

“Natural gas is poised to enter a golden age but will do so only if a significant proportion of the world’s vast resources of unconventional gas can be brought to markets in a manner that is both profitable and that addresses the legitimate public concerns about the associated environmental and social impacts,” she said.

Thanks to developments in shale exploration, the IEA, in its 2012 edition of the World Energy Outlook, said the United States is expected to be a net exporter of natural gas by 2020 and the North American region should follow suit in terms of oil by 2035.

Critics of shale development have expressed concern about the types of chemicals and the amount of water used in the process.

Shell Chief Executive Officer Peter Voser said in Boston last week that the United States was setting the standard for shale developments.

“Improvements in the technology known as hydraulic fracturing are unlocking huge volumes of oil and gas,” he said. “And this technology has the potential to do so elsewhere around the world as well.”

UPI



8 Comments on "IEA expects global natural gas revolution"

  1. GregT on Tue, 26th Mar 2013 3:36 pm 

    Thanks to developments in shale exploration, the IEA, in its 2012 edition of the World Energy Outlook, said the United States is expected to be a net exporter of natural gas by 2020 and the North American region should follow suit in terms of oil by 2035.

    If we dump another 22 years worth of CO2 into the atmosphere, we won’t need to be concerned with energy anymore.

  2. Plantagenet on Tue, 26th Mar 2013 3:49 pm 

    A contract was just signed for US LPG exports to the UK.

    Way to go USA!

  3. Arthur on Tue, 26th Mar 2013 6:49 pm 

    Congratulations, as always the UK can rely on the US. All the UK needs to do now is to build some extra storage facilities.

    http://www.dailymail.co.uk/news/article-2297296/British-gas-reserves-run-dry-36-HOURS-freezing-householders-turn-heating-up.html

  4. GregT on Tue, 26th Mar 2013 8:01 pm 

    What the UK should really be focussing on, is how to locally feed a population of 62 million people. Most of it’s food comes from long distances away, and as fossil fuel prices increase and climate change disrupts food production, the UK is going to be in for a great deal of pain.

    Putting more CO2 into the atmosphere is exactly the opposite of what the UK really needs.

  5. Kenz300 on Tue, 26th Mar 2013 8:21 pm 

    The problem with the UK and all nations is that they do not have a plan to balance their populations with their resources, food, water, energy and jobs.

    Every country needs to develop a plan for sustainability.

    Wind, solar, wave energy, geothermal and second generation biofuels can all be produced locally and provide local jobs.

    This is a more sustainable solution than relying on more imports.

  6. BillT on Wed, 27th Mar 2013 1:41 am 

    And yet, another article says that nat. gas production is falling due to the unprofitable fraking glut. Which is it? Maybe there are shipping contracts that will never be filled? Or if they are, will it drive the cost of nat.gas up to equal the $9+ in other countries? That would kill truck, home, power plant, etc. expansion, wouldn’t it?

  7. GregT on Wed, 27th Mar 2013 3:53 am 

    Yes BillT,

    We, the people living in NA, should be very careful what we wish for. If we were to use nat gas to the extent that many here advocate, nat gas prices would increase exponentially, and we would all have to pay through the nose for it.

  8. SOS on Thu, 28th Mar 2013 3:50 pm 

    There is a gas glut but that has nothing to with EUR (estimated ulimate recovery). We have a huge EUR in gas, obviously gas is renewable, so the ups and downs of short term production numbers are nothing more than that.

    Right now we have far more gas production than we can handle and above ground storage is full. The result is obvious: a drop in short term production.

    Thanks again to radical politicans and environmentalists that have cause this world wide shale revolution! Life around the globe will be easier and healthier because of the enormous shale resources we are finding and developing.

    Shame on them for causing the situation in the middle east resulting in unfathomable human suffering.

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