'The global unconventional gas market will reach $75.2bn in 2011' says visiongain report

Oct. 21, 2011 - PRLog -- Visiongain calculates the global unconventional gas market, defined as spending on exploration and production of unconventional gas, will reach $75.2bn in 2011.

Production of natural gas has risen at an annual average rate of nearly 3% over the past thirty years and natural gas has shown the steadiest pace of growth of any fossil fuel. As a result, forecasts of growth in demand for gas are thought to be fairly predictable. Therefore, to meet growth in demand for gas, many countries have opted to invest in the potential of their unconventional gas resources.

In recent years, the dynamics of the gas market have changed and many countries are considering development of unconventional gas resources as an economically viable option. One reason for urgency in development of unconventional gas resources is the depletion of conventional gas resources in certain regions of the globe. Meanwhile, many countries are aiming to substitute natural gas for nuclear energy and more carbon intensive fuels such as coal. This has given way to the development of shale gas, tight gas, coal-bed methane on a large commercial scale.

Unlike conventional gas resources, the geological formations that are conducive to unconventional natural gas are found more widely across the globe. Hence, countries such as the US, China, India, Argentina, Poland and Russia are exploring and assessing the full potential of their unconventional resources. Development of unconventional gas will allow many countries to reduce their LNG and pipeline gas imports.

The unconventional gas industry has been criticised for its excessive consumption of water. Hence, the industry is reshaping itself to reduce its water usage and companies are attempting to find new methods of recycling and reusing the water produced during the hydraulic fracturing processes. Water is a vital resource not only for the unconventional gas industry itself, but it is also an indispensable resource for communities surrounding unconventional gas fields. As a result, many governments are implementing environmental regulations with regard to hydraulic fracturing that were until recently unprecedented in many regions.

Visiongain's latest energy report takes a comprehensive look into the unconventional gas industry. You will gain valuable insight into the future developments of the unconventional gas industry by ordering The Unconventional Gas Market 2011-2021: Shale Gas, Tight Gas, CBM & Methane Hydrate report.

To see sample pages of report please visit http://www.visiongain.com/Report/703/The-Unconventional-G...

For further information please contact sara.peerun@visiongainglobal.com

ENDS

Notes for Editors

If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongainglobal.com or call her on +44 (0) 207 336 6100

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Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, visiongain produces a host of business-2-business conferences, newsletters, management reports and e-zines focusing on the Energy, Telecoms, Pharmaceutical, Defence, Materials sectors.

Visiongain publishes reports produced by its in-house analysts, who are qualified experts in their field. Visiongain has firmly established itself as the first port-of-call for the business professional, who needs independent, high quality, original material to rely and depend on.