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Tight gas development is, from a variety of viewpoints, an underappreciated component of the unconventional oil and gas industry. Like shale, this unconventional resource will enjoy double-digit percentage point growth in E&P capital expenditure over the next 5 years. Large-scale production is limited to North America and China, a situation that will have changed by 2023. Visiongain has determined that the value of capital expenditure on Tight Gas E&P efforts will reach $8,718.9m in 2013.
Not until 2011 did shale gas production overtake the contribution of tight gas to US domestic natural gas supply. Without the development of the tight gas industry - now decades old - drilling and completion techniques capable of extracting gas from shale formations would not have evolved.
However, the tight gas industry is only a notable part of the natural gas supply picture in North America and China. The entrance of China is a recent development, but is the most important for future spending on tight gas E&P efforts. Shale gas and coalbed methane production are far lower than is desired and ambitious targets for domestic natural gas production, set by the Chinese government, will need to be met with ever-increasing volumes of tight gas.
Argentina and Oman help to buttress this capital expenditure, whilst market spaces such as Europe and Australia are delayed by an inability to access any economy of scale. Indeed, a high cost drilling and completion environment, combined with environmental opposition to hydraulic fracturing, create barriers to tight gas E&P that prevent capital deployment. Further limitations include artificially low natural gas prices and the depressed hub prices of North America.
Liquids-rich tight gas formations have become crucial to project economics, especially in North America. Aside from rig efficiency gains and E&P targeting liquids-rich plays, tight gas developers in this region will, in the long-term, rely on the ability to access export markets via LNG.
Despite limitations, mostly as a result of gas prices or drilling and completion cost, the overall picture for tight gas is positive. Plentiful reserves, a growing global natural gas market and extensive experience born from decades of North American development are just some of the factors that enable capital expenditure expansion over the next 10 years.
What makes this report unique?
Visiongain consulted widely with industry experts and full transcripts from these exclusive interviews are included in the report. As such, the report has a unique blend of primary and secondary sources providing informed opinion. The report provides insight into key the drivers for, and restraints on, tight gas E&P capital expenditure. It also identifies future growth areas, analyses leading companies and provides a unique blend of qualitative analysis combined with extensive quantitative data, including global and regional market forecasts from 2013-2023 - all highlighting key business opportunities.
Why you should buy the Global Tight Gas Market 2013-2023: The Underappreciated Predecessor of Shale Gas
• 171 pages of comprehensive analysis
• 3 Exclusive Visiongain interviews with:
- Alan Flavelle, Executive Chairman at Greenpower Energy.
- Viktor Soreg, Director of Exploration Portfolio Management for the Eurasian region at MOL Group.
- Stephen Keenihan, Chief Executive Officer, Managing Director and Executive Director of Transerv Energy.
• 100 tables, charts, figures, maps and graphs
• Tight Gas E&P CAPEX forecasts between 2013-2023 globally and for five leading national markets
- A European region market forecast, including Individualised outlooks for Germany, Hungary, the Netherlands, Slovenia, Turkey and the Ukraine.
- 'Rest of the World' market forecast including Individualised outlooks for Algeria, Brazil, Chile, Jordan and Saudi Arabia. The Rest of the World market also includes in depth analysis of tight gas developments in Australia.
- Rest of Asia' market - including individualised outlooks for India, Pakistan and Turkmenistan.
• A PEST analysis
• In-depth analysis of the five leading tight gas E&P companies.
- Royal Dutch Shell
ARC Resources Ltd.
Aurelian Oil and Gas
BC LNG Export Cooprative LLC
Chubu Electric Power
Cordillera Energy Partners
CNPC (China National Petroleum Company)
Crescent Point Energy
Falcon Oil and Gas
Fenix Consulting Delft
Freeport LNG Development
General Electric (GE)
Harvest Natural Resources
JKX Oil and Gas
Jordanian National Electricity and Power Company
Korea Gas Corporation
Kulcyzk Oil Ventures Inc
Kuwait Foreign Petroleum
LNG Partners LLC
Liberty Natural Gas
Mari Gas Company Ltd
Nadra Yuzivska LLC
Netherland, Sewell & Associates
New Times Energy Corporation
Oman Gas Company
Oman Oil Company for Exploration and Production (OOCEP)
Petra Energia SA
Pierdae Energy Canada
Polish Oil & Gas Company
Poltava Petroleum Company
Progress Energy Canada
PTT Exploration and Production
Queensland Gas Company
San Leon Energy
Tiger Energy Partners
Ute Energy Upstream Holdings
Government Agencies and Other Organisation Mentioned in This Report
Australian Department of Energy, Resources and Tourism
Australian Institute of Mining and Metallurgy
Canadian National Energy Board
European Union (EU)
Government of South Australia
Imperial College London
National Development and Reform Commission (NDRC) - China
New Mexico Oil Conservation Division
OECD (Organisation for Economic Co-operation and Development)
State Pricing Bureau (China)
University of Western Australia
US Department of Energy
US Department of the Interior
US Energy Information Agency (EIA)
US Geological Survey