Shale gas is a natural gas that is found deep inside the earth within shale formations and plates. Shale is a sedimentary rock mostly made up of mud and clay. Using various scientific techniques like horizontal drilling and hydraulic fracturing shale gas is extracted from these trappings between the rocks, to be used as natural gas which is a very important source of energy and fuel. Shale gas has globally made its mark and is an important niche market in terms of natural gas.
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Global Shale Gas Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2021
Shale Gas Market and Forecasts
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| Drivers |
- Discoveries of new basins
- Improving supply and distribution infrastructure
- Improvements in drilling and hydraulics technology
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| Restraints |
- Hydraulic Fractioning causes seismicity, water contamination and is a high water intensive process.
- Growth of renewable energy sources
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Regional Distribution
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- North America leads this market
- Europe and Asia Pacific regions are the propelling markets.
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Recent Deals and News
- Lately BP plc and state-owned China National Petroleum Corp. have consented to expand their global partnership including exploration of shale gas in the Sichuan Basin.
- Al-Obayyed Field in the Western Desert of Egypt was researched and explored for shale gas. The US Corporation Apache completed the research and is in line to drill the first exploratory well in this region.
- The head of the multinational chemicals company of Ineos, Jim Ratcliffe, recently said that shale gas sector is the best domain and chance of Scotland to regain its economic independence. Ineos wants the Scottish government to trash its moratorium (official suspension) of hydraulic fracturing if it wants full exploration of shale gas and achieve economic independence.
- Inspectorate, a giant leader that tests and inspects the oil and gas industry, recently dwelled into expanding its testing capabilities in North America. This would be done to meet the demand for the analysis of propane, butane and other LPG products that’s only going uphill. The two major shale rocks/basins in this regard are the Marcellus and Utica which cover the regions of Pennsylvania, Ohio and West Virginia, and both have recently been a huge influence in increasing the natural gas production market in North America.
- Hitherto, only government owned companies like ONGC and Oil India have been allowed to extract any form of oil gas in India. And India till date hasn’t extracted commercial shale gas. But now this wouldn’t be a dream anymore. Argentina recently proposed a joint development with India in exploring shale gas. The two firms which would work jointly in this sector are Lappco International of Argentina and ONGC of India. This would be the first time when India would allow foreign investors to work in the oil sector.
Owing to the recent discoveries of more and more shale gas reserves in various geographical locations across the globe, its demand is constantly moving uphill.
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