By Markham Hislop
The growth of unconventional gas is spreading across the world with major implications over many years for markets and prices according to a new World Energy Council study
“Unconventional gas, a global phenomenon examines where and how fast the revolution is taking place.
The study, developed with project partner Accenture Strategy, says that despite an uncertain price environment, the magnitude and speed of change is not only influencing the United States market, but also other markets including countries such as China, Argentina and Algeria which have similar potential as the U.S. in shale gas production.
“Unconventional gas is causing a shift in the dynamics of the natural gas market which will be felt for many decades to come,” said Christoph Frei, Secretary General, World Energy Council.
“Its spread around the world is being accelerated because it can make gas more affordable to consumers and reduce concerns about the security of supply.
Also, countries such as Mexico, Saudi Arabia, South Africa, Poland and Turkey are mentioned in the study as having significant potential for shale gas development.