Shale Gas: What to Expect in 2013
Monday, January 28, 2013
Proactive Investors recently posted a list of 13 oil and gas trends to watch for in 2013. Each mention on this list, according to the writer, “…has the potential to have a significant impact on our industry in their own right.”
Here’s a few highlights from the list:
Unconventional Oil in the US- The IEA (International Energy Agency) predicts that by 2020 the US will become the world’s largest oil producer, and may even export by 2030.
The World Economy- Oil demand is linked to economic growth. The impact of austerity measures in the US and in the E.U. will negatively impact economic growth and therefore will be a drag on oil prices.
Hydrates Technology- Japan has been leading studies since 1995 in to the production of natural gas hydrates resources. The gas hydrate resource is bigger than all the oil, gas and coal conventional reserve available today.
LNG as a Transportation Fuel- Liquified Natural Gas (LNG) has penetrated the transportation market much more deeply and much more quickly than anyone had anticipated. The next push is in developing bunkering to allow for greater use of LNG as a fuel for shipping.
To read the entire list visit the website.
» Via: Proactive Investors › 12 oil and gas themes to follow in 2013
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Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.