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Regular readers of this blog will not be surprised to learn that globally there are 6.6 trillion cubic feet of shale gas deemed recoverable by the Energy Information Administration (EIA).
That is in addition to the 6.6 trillion cubic feet of regular proven gas reserves found mostly in Russia. Shale gas resources are widely - and strategically - disbursed. Winners of the shale gas sweepstakes include China, the United States and Argentina along with South Africa, Australia, Poland, France, Chile, Sweden, Paraguay, Pakistan and India.
These vast reserves protend an energy boom of historical proportions. US energy companies are fighing tooth and nail to develop these resources, inspite of the best efforts of the Obama Administration to curtail those efforts. China has partnered with US energy companies to develop shale gas resources in the US with the clear intention of learning the best processes which it will then deploy to develop its own vast reserves. Africa, India, Pakistan, Argentina and Poland sit on large reserves of their own that hold the promise of energy independence.
The development of the technologies required to extract shale gas, and the identification of these vast reserves, have combined to reset the global geo-political chess board. OPEC and Russia will lose a significant amount of leverage if these shale gas reserves are developed. The potential for economic growth, freedom and geo-political leverage in countries sitting on these reseves should not be under estimated.
"The global energy chessboard is changing, and markets will be realigned. Countries that have never had so much available energy will become self-sufficient, and perhaps even exporters," Luis Alberto Terrero, head of the Venezuelan Gas Processors Association (AVPG), told IPS.
As gas supplies grow, "fossil fuels may become cheaper, the growth of alternative energies will slow down, and new alliances, investments and trade networks will be established," Terrero said.Advocates of sustainable development, IPD, BIM and lean processes should embrace the opportunities sure to flow from the energy industries efforts to locate, extract and distribute these resources. The impact of an energy boom flow far beyond the well site and the pipelines. New infrastructure is required, demand for housing spikes, supporting industries thrive and new industries emerge. Opportunities abound for long and short term planning and those who understand IPD, BIM and lean processes will be well positioned to serve the BUILT Professionals who deliver those services and support those efforts.
Global proven reserves of conventional gas total 6,608 trillion cubic feet (Tcf), according to statistics from British-based oil giant BP, and the largest deposits are in Russia (1,580 Tcf), Irán (1,045 Tcf), Qatar (894 Tcf) and Saudi Arabia and Turkmenistan (283 Tcf each).
An EIA study published in April 2011 found practically the same volume (6,620 Tcf) of shale gas deemed recoverable in just 32 countries, and the reserves are differently distributed, with China possessing 1,275 Tcf, the United States 862, Argentina 774, Mexico 681, South Africa 485 and Australia 396 Tcf.
Link to the Article
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