30 July 2008 20:55 [Source: ICIS news]
Aubrey McClendon, chief executive of major independent natgas producer Chesapeake Energy Corp, said the
“This is a game-changer, a paradigm shift,” McClendon said. “Shale gas makes the
Meanwhile, the study just issued by Navigant Consulting and commissioned by the American Clean Skies Foundation, a non-profit advocacy group founded by its chairman McClendon, predicted that annual production from the seven largest Combined with conventional
Meanwhile, the study just issued by Navigant Consulting and commissioned by the American Clean Skies Foundation, a non-profit advocacy group founded by its chairman McClendon, predicted that annual production from the seven largest
Combined with conventional
McClendon said the now developing Haynesville shale deposit that reaches from east Texas, through Louisiana and into Arkansas “may hold up to eleven or twelve times current US annual natural gas consumption of around 22,000bn bcf”.
That would represent recoverable gas reserves of about 264,000 bcf.
Natural gas is a major feedstock and energy resource for US chemical producers. Chemical companies and a broad array of other
McClendon said that the Haynesville field was only one of a half dozen major shale gas basins under development, adding there were at least a dozen other shale basins scattered across the
Shale gas development had become economical in the last three to five years due to technical advances in horizontal drilling and hydraulic sediment fracturing and amid the increasing cost of gas, McClendon said.
McClendon urged congressional support for new legislation that would provide tax credits and bonding authority to encourage more production of automobiles powered by natgas and installation of natgas fuel points at
He said that shale gas reserves were sufficient to meet anticipated
McClendon conceded, however, that despite availability of shale gas resources, anticipated
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