AFPM '12: Shale potential outside N America yet to be assessed
02 April 2012 18:41 [Source: ICIS news]
SAN ANTONIO, ?xml:namespace>Texas (ICIS)--Substantial shale reserves exist outside of North America but their potential is yet to be fully assessed, a panel of experts told AFPM delegates on Monday.
In Argentina, exploratory work has returned “good final data” but further development cannot progress because of political constraints.
China is thought to have more shale reserves than North America but the resource potential is “not proven yet”, delegates were told during a panel discussion on shale plays implications for the global petrochemical industry.
“We would suggest that there is likely a lag period for China development,” said panel member Lawrence Schwartz, a senior analyst at Wood Mackenzie.
Last month, China unveiled a five-year development plan, which said it aimed to achieve a production volume of 6.5bn cubic metres/year (cbm/year) of shale gas by 2015 and 60bn-100bn cbm/year by 2020.
In Poland, the discovery of shale reserves has been “not as robust or economic as anticipated,” Schwartz said at the International Petrochemical Conference (IPC) event.
The potential of shale reserves in Mexico, which borders the south Texas Eagle Ford shale formation, was also currently unclear.
“It will be interesting to watch how their resources and capital get sorted out to develop fields down there,” said Greg Haas of Houston-based Hart Energy.
The panel discussion was moderated by Nigel Davis, Insight Editor at ICIS.
Hosted by the American Fuel & Petrochemical Manufacturers (AFPM), the IPC continues through Tuesday.By: Graeme Paterson+44 20 8652 3214
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