According to the Fort Worth Business Press, the hot topic of discussion at the 29th IHS CERA Week in Houston was natural gas. The Horn River News focuses on the great opportunity that shale gas is presenting North American and the world in meeting growing energy demands with a lower carbon natural gas solution.
While the U.S. has seen an estimated 40% increase in the estimated natural gas reserves due to shale discoveries, Canada may see nearly a 100% increase with British Columbia’s Horn River Basin, Montney Basin and others across Canada. This abundant cleaner fuel should represent a greater portion of the overall energy mix in North America.
IHS CERA Chairman Daniel Yergin is quoted:
“This is simply the most significant energy innovation so far this century. As recently as 2007 it was widely thought that natural gas was in tight supply and the U.S. was going to become a growing importer of gas. But this outlook has been turned on its head by the shale gale.”
A common reference was to the 40% increase in energy demand from 2007 to 2030 and the pressures on countries to reduce green house gas emissions.
Statoil President and CEO Helge Lund is quoted:
“I remain certain climate change will be one of the key forces shaping business and policies over the next decades. Dealing with climate change, I’m constantly surprised by the tendency to focus on the most-expensive and difficult measures. I believe the one climate measure in the U.S. and in Europe that has been hugely underestimated and under-communicated has been the use of natural gas… Gas is a climate measure that is available now. With such good arguments, it remains a mystery to me … why decision makers remain somewhat reluctant to fully exploit the benefits of gas. And here I think we all have a promotion challenge ahead of us.”
Philippe Boisseau, president of gas and power at Total is quoted:
“There is a need for gas long-term, and everybody is really right now focused on the oversupply, which is driving prices down in the whole planet, including in the U.S. But very quickly this bubble will be reabsorbed by the growth of gas demand.”
Read the full article. “Unconventional gas revolution” hot topic at conference”
