Shale gas shows significant growth in global production
The U.S. Energy Information Administration’s (EIA) recently released International Energy Outlook 2016 (IEO2016) and Annual Energy Outlook 2016 (AEO2016) showed a significant increase in shale gas production that is expected to continue through 2040.
The report found that shale gas production increased from approximately 10 billion cubic feet per day (Bcf/d) in 2010 to 42 Bcf/d in 2015. The EIA report predicts that production will continue to increase to 168 Bcf/d by 2040, accounting for 30 percent of global natural gas production.
There are currently only four countries in the world with commercial shale gas production – The United States, Canada, China and Argentina. The report, however, showed technological improvements in natural gas production in Mexico and Algeria, and expects the two countries to also significantly contribute to shale production by 2040. The six countries are expected to account for 70 percent of global shale production by 2040.
The United States is expected to show the largest increase in shale production between 2015 and 2040, with an anticipated increase of 37 Bcf/d to 79 Bcf/day, amounting to 70 percent of total U.S. natural gas production in the AEO2016 Reference case by 2040.
Canadian shale production is expected to account for approximately 30 percent of total Canadian natural gas production by 2040. Shale production is expected to account for 40 percent of total natural gas production in China by 2040, 33 percent of total production in Algeria, and 75 percent of total production in Argentina and Mexico by 2040.
