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. Advances in upstream technology have led to a surge in the production of unconventional gas in North America in recent years, holding o
Shale gas extraction in the UK: a review of hydraulic fracturing (The Royal Society and The Royal Academy of Engineering)
Decisions are soon to be made about shale gas extraction continuing in the UK. The next round of issuing Petroleum Exploration and Development Licences is also pending. This report has not attempted to determine whether shale gas extraction should go ahead. This remains the responsibility of the Government.
Technological developments in the United States have increased the economic viability of shale gas production, which have in turn revolutionized the import-dependent US natural gas market. Indeed, according to the 2012 forecast of the US Energy Information Agency (EIA), the development of shale gas could potentially lead the US to become a net exporter of LNG by 2016, and a net pipeline exporter by 2025.
The shale gas revolution of the last few years has changed the perception of the natural gas industry and has dramatically revitalized natural gas exploration and production while unlocking vast new reserves of natural gas.