DeepResource

Observing the world of renewable energy and sustainable living

Are We Entering A Golden Age Of Gas?


The International Energy Agency has produced a 150 page report titled: “Are we entering a golden age of gas?“. Here are the conclusions:

  • 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.
  • [iea.org]

    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.

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