Overview
of Shale
Shale
gas is a type of unconventional gas trapped within organic-rich shale
formations. It is the most common form of sedimentary rock found in
the deposits all over the world. Shale gas is extracted through a
decent combination of horizontal drilling and hydraulic fracturing
that allows an appropriate volume of shale gas to be produced in
certain ways. Shale is highly distinguished by being soft and
extremely fissile. In addition to it being the richest source of
fossil depositions, shale also carries a number of ornamental and
practical uses in the market. It is available in an array of colors
whereby, some are dark that they are almost black, while some others
may be brown, greenish, bluish, or cream – all depending on the
precise composition of the rock.
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For
years, the United States has taken particular interest in extracting
fuel from oil shale rocks and formations. The natural gas industry in
the U.S. is typically boosted due to the economical production of
shale gas in the entire region. At present, shale gas accounts for 36
percent of the total natural gas production in the U.S.
Global
Market – Stats & Figures
According
to leading market research reports based on the study of the ‘Shale
Gas Market’ for the forecast period 2013 – 2019, the global shale
gas production was 10,138.2 Bcf in 2012 and is expected to reach
17,201.6 Bcf by 2019, growing at a CAGR of 7.9% from 2013 to 2019.
Most
of the countries, especially including the U.S., dominate the shale
gas market in terms of production and revenue because of the
constantly increasing demand for energy and the global awareness on
depletion of unconventional source of energy from the oil & gas
reserv
Application
Analysis
The
use of shale gas is observed in various applications such as
industrial, power generation, commercial, residential, and
transportation segments. Due to an increasing demand seen from these
applications the market experiences higher production of shale gas in
order to meet all the needs. The drive is majorly seen in countries
like the U.S. and Canada. Also, focus on lowering dependability on
conventional gas sources is another added factor to the growth of
this
market.
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For
years, the Asian companies and key foreign players have also been
richly investing in this market in order to gain high profits in the
next coming years. Nevertheless, high production costs and excessive
utilization of water are restraining factors that would majorly
affect the growth of the market.
Geographical
Analysis of Shale Gas Market
Geographically,
North America has had a positive, a rather advantageous façade in
the growth of the shale gas market. Hydraulic fracturing and soaring
gas prices have tremendously enhanced the growth of unconventional
gases in North America. Due to this, the global energy supply shift
is also expected to be seen in this region in the near future.
Additionally,
Eastern Europe and Eurasia accounted for over 60% of conventional gas
resources and nearly 16.5% was accounted for the unconventional gas
sources.
The unconventional gas accounted for 44% of the total technically
recoverable gas until 2012, whereas shale gas represented two-third
of the unconventional sources. There are many technically recoverable
unconventional gas zone areas in the U.S. and China which are yet to
be discovered.
Consequently,
a few other countries such as Algeria, Mexico, and Argentina also
hold large shale gas reserves and immense growth potential for years
to come.
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