MarketsandMarkets: Global Shale Gas Market to Reach 6.9 tcf by 2021 and With 78% Market Share North America Continues to Dominate the Shale Gas MarketBy Marketsandmarkets, PRNE
Tuesday, May 24, 2011
DALLAS, May 25, 2011 -
According to the new market research report "Global Shale Gas Market by
Technology, Geography, Applications, Regulations, Ethylene production, Market
Trends & Forecasts (2011-2021)" published by MarketsandMarkets
(www.marketsandmarkets.com/), the global shale gas production is
expected to grow from 4,130 billion cubic feet in 2011 to 6,991 billion cubic
feet in 2021 at a CAGR of 5.4% for the same period. North America being the
only region active with commercial production of shale gas as of year 2010;
is expected to remain the largest shale gas market in terms of production
volumes by the year 2021 with a share of 78% due to technological expertise
and availability of resources; followed by EMEA (13%), Asia Pacific (7%), and
ROW (2%). The current exploration and production activities by major oil and
gas companies in Europe and Asia Pacific indicate the commercialization of
shale gas by 2016 in these regions. The markets representing high growth rate
in shale gas production from 2016 to 2021 are China (6.2%), Poland (6%),
France (5.4%), South Africa (5.1%), and U.S. (5%).
Browse 79 market data tables with 26 figures and 256 pages and in-depth
TOC on Global Shale Gas Market by Technology, Geography, Applications,
Regulations, Ethylene production, Market Trends & Forecasts (2011-2021).
Early buyers will receive 10% customization of report.
Shale gas is an unconventional natural gas explored from shale rocks or
deposits underneath earth through multistage hydraulic fracturing and
horizontal drilling. The shale gas reserves are found across the globe in
significant volumes of about 16,103 trillion cubic feet as per the shale gas
report by IEA.
The major drivers for shale gas market are identified as proved abundance
of shale gas resources across the globe, improving supply and distribution
infrastructure, decline in natural gas prices, and improvements in drilling
technology. The capital intensive nature of shale gas projects and water
contamination and usage issues for fracturing requirements hinder shale gas
development. The opportunities are cited in probable increase in ethylene
volumes through shale gas and new basins discovered in countries like Poland,
China, and Australia.
The increasing shale gas production is likely to boost ethylene
production by 6.6% by the year 2021. The another challenge of reducing
fracturing water requirement from average well consumption of 3.15 million
gallons/well can be overcome by water recycling and increasing well
productivity. According to research, if well productivity is over 9 BCF/well,
water requirement can be reduced by 35% than that required with average well
productivity of 5.4 BCF/well.
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