Global gas shale market: Over 7,600 tcf of resources estimated to be recoverable

Press Release   •   Jun 24, 2013 11:22 BST

Resources in the global shale gas market which are technically recoverable are believed to amount to an estimated 7,629 trillion cubic feet (tcf). The Asia-Pacific region is estimated to possess the largest technically recoverable shale gas resources with 2,808 tcf, or 37% of the global resources. North America, with around 25%, holds the second largest shale gas resources across the world. South and Central America accounts for around 16% of global total technically recoverable gas shale resources, equivalent to an estimated 1,225 tcf. The Middle and Africa accounts for a share of around 14%, followed by Europe with 624 tcf, or around 8% of the technically recoverable gas shale resources.

Investment for shale development has been increasing in emerging countries such as Poland, Argentina, Australia, and China. Argentina made substantial investments in shale gas, amounting to around US$2.05 billion, between 2009 and March 2013. In 2010, shale gas investment in Argentina amounted to an estimated US$513.85 MM, which increased to around US$1.42 billion in 2011. The Argentinean government has also introduced the Gas Plus Program in order to support gas shale development in the country. The program allows operators involved in shale gas development to sell natural gas at a higher price.

In Australia, gas shale investment amounted to an estimated US$1.26 billion during the 2009-March 2013 period. In 2009, shale gas investment in Australia was estimated at around US$128 MM, which increased to around US$678.81 MM by 2012. At the end of March 2013, shale gas investment in the country was estimated at around US$376.01 MM.

In Poland, gas shale investment amounted to an estimated US$296.66 MM during the period 2009-March 2013. In 2009, shale gas investment was estimated at around US$21.33 MM. By 2012, shale gas investment had increased to around US$112.91 MM. 

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