16 December 2010 22:13 [Source: ICIS news]
WASHINGTON (ICIS)--Shale gas resources will make up an increasingly larger share of domestic ?xml:namespace>
In issuing its annual long-term energy outlook report, the department’s Energy Information Administration (EIA) said that increasing shale gas resources would help lower
“Our reference case projection shows the growing importance of natural gas from domestic shale gas resources in meeting
US petrochemical producers and downstream chemical makers are heavily dependent on natural gas as both a feedstock and power fuel, so the availability of reasonably priced domestic natural gas is critical to the industry’s ability to compete in global chemical markets.
Newell said that the technically recoverable shale gas resources in the US were 827,000bn cubic feet (bcf) as of 1 January 2009, more than 474,000 bcf larger than the year-earlier estimate.
He said that more drilling in existing and new shale plays accounted for the significantly increased shale gas resources estimate.
“This larger resource leads to about double the shale gas production and more than 20% higher gas production in the lower 48 in 2035, with lower natgas prices than was projected in the 2010 Reference case,” the administration said.
In part because of increased domestic shale gas production, along with increasing renewable energy capacity, Newell said that the net import share of total
The administration’s long-term energy outlook also said that non-hydro renewable energy sources - solar, wind and geothermal - and natural gas would be the fastest growing fuels used for generating electricity through 2035.
However, coal would remain the dominant electric power fuel because of the large amount of existing and planned capacity for coal-fired power stations.
That 2035 total gas consumption is about 1,600 bcf higher than the department estimated a year ago.
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