06 April 2011 00:37 [Source: ICIS news]
HOUSTON (ICIS)--Global shale gas reserves raise the amount of technically recoverable natural gas across the globe by more than 40%, according to a US Energy Information Administration (EIA)-sponsored report released on Tuesday.
The World Shale Gas Resources report estimates there are 6,609 trillion cubic feet of recoverable shale gas resources, which raises estimates of world wide recoverable natural gas resources to about 22,600 trillion cubic feet (623 trillion cubic metres).
Previous estimates of worldwide recoverable natural gas resources totalled about 16,000 trillion cubic feet and included only a few of the shale basins, according to the EIA-sponsored report, conducted by Advanced Resources International.
The report raised the total natural gas estimate after assessing 48 shale gas basins in 32 countries.
The US has 862 trillion cubic feet of technically recoverable shale gas, according to the report. The EIA's Annual Energy Outlook 2011 projects that shale gas will account for about 46% of US natural gas production in 2035.The global estimates of shale gas remain uncertain since shale production is a recent innovation, especially outside of the US. Many other countries have just recently begun to learn how to assess the amount of shale gas available.
The EIA said the the estimate of more than 22,000 trillion cubic feet of natural gas is "probably quite conservative". Russia and the Middle East were not considered in the study.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|