A drive to increase unconventional gas production in the United States could cause gas to replace oil as America’s primary energy source, according to a poll conducted yesterday at the Offshore Technology Conference (OTC) in Houston. 56% of participants thought that gas will replace oil to become the country’s principal source of energy over the next 18 years, while 44% thought that oil would remain dominant.
The Industry Snapshot Poll was conducted by global independent technical advisor GL Noble Denton on the first day of OTC, which is expected to attract nearly 80,000 oil and gas professionals from more than 100 countries. The poll was also completed online by senior players across the industry.
Pekka Paasivaara, Member of the GL Group Executive Board, said: “The American unconventional gas market is rapidly changing the local energy landscape. Shale gas accounted for barely 2% of US natural gas production a decade ago. Today it is approaching 30% and rising.
“The result of this poll highlights the extent to which the American gas ‘revolution’ could grip the local energy market. The US currently stands as the world’s third largest oil producer, and our poll demonstrates significant industry confidence in the ability for the local unconventional gas market to compete.”