Are We Entering A Golden Age Of Gas?
Natural gas is poised to enter a golden age, but will do so only if a significant proportion of the world’s vast resources of unconventional gas – shale gas, tight gas and coalbed methane – can be developed profitably and in an environmentally acceptable manner.
Yet a bright future for unconventional gas is far from assured: numerous hurdles need to be overcome, not least the social and environmental concerns associated with its extraction.
The technologies and know-how exist for unconventional gas to be produced in a way that satisfactorily meets these challenges, but a continuous drive from governments and industry to improve performance is required if public confidence is to be maintained or earned.
We have developed a set of “Golden Rules”, suggesting principles that can allow policymakers, regulators, operators and others to address these environmental and social impacts.
In our Golden Rules Case, we assume that the conditions are in place, including approaches to unconventional gas development consistent with the Golden Rules, to allow for a continued global expansion of gas supply from unconventional resources, with far-reaching consequences for global energy markets.
Production of unconventional gas, primarily shale gas, more than triples… to 1.6 trillion cubic metres in 2035.
The International Energy Agency has produced a 150 page report titled: “Are we entering a golden age of gas?“. Here are the conclusions:
Translation: the gas is there in sufficient quantites for a ‘golden gas age’, but we are not sure if it is going to be profitable to extract this gas, not to mention environmentally responsible.