Unconventional gas market to reach $126.9 billion by 2019 due to increasing foreign investments by Asian companies

The U.S. has re-emerged as the major producer of unconventional gas thanks to the huge reserves and technological advancement for trapping these resources. In the U.S., spearheaded by a group of small independent producers, the initial exercise for the development of shale gas happened in the 1990s. But, the recent entry of industry majors that are seasoned in advanced technologies has spurred the production of shale gas in the country. Thus, by 2019, the U.S. is expected to contribute a revenue of US$59.75 bn to the global unconventional gas market.

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In other parts of North America as well, the abundance of unconventional gas has manifested a paradigm shift to reshape the gas sector both in the region as well as globally. With unconventional gas resources comparable to the volumes of conventional gas resources, the former is slated to be a valuable means to cater to the steadily increasing energy needs. As an example, in Canada, which shares a frontier with the U.S., the industrial applications of shale gas held prominence with the total production amounted at 318 bcf (billion cubic feet) in 2012. This exemplifies the increasing utilization of unconventional gas for industrial operations.

What is Unconventional Gas?

Identical in chemical composition with conventional natural gas, which contains primarily methane, it is the atypical geographical locations that set unconventional gas apart from the former. Available mainly in the form of shale gas, coal bed methane, tight gas, and gas hydrates unconventional natural is trapped in highly compact rock or coal beds that require specific production techniques to liberate the hydrocarbons.

The quality of the reservoir rock is gauged by its porosity and permeability. By porosity, it refers to the void spaces between the grains, which represents the rock’s capacity to hold liquid or gaseous hydrocarbons. By this definition, the higher the porosity of a reservoir rock, the higher is the capacity to contain oil or gas reserves

Nonetheless, porosity alone is not sufficient. The pores need to be interconnected for the fluids to flow inside the rock cavities. This feature is called ‘permeability’, which is the measure of the rock’s ability for the flow of oil or gas. Both shale gas and tight gas display a common feature to be trapped in very low-permeability rock – in ultra-compact structures that sharply restrict the movement of gas.

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In recent years, some of the factors that have influenced the development of the unconventional gas market are briefed as follows:

Increasing focus of large energy companies in the world to reduce dependence on conventional resources is reinforcing efforts to tap unconventional natural gas resources for energy needs. In this regard, large oil and gas companies in Asia are making investments to acquire unconventional gas resources in distant parts of the world.
Governmental support in countries such as the U.S. and China have been instrumental in increasing production of unconventional gas.
Presently, tight gas holds the largest share of the unconventional gas market with the product segment accounting 44.4% of the global market in 2012. However, by 2019, it is shale gas that will dominate the market with a market share of more than 47% by the end of the period.

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