Gas reservoirs are mainly classified
into conventional or unconventional. An unconventional gas reservoir is
one which is situated in rocks with low permeability, thereby making the
gas inaccessible unlike in conventional gas deposits. The cost of
finding, developing, and managing these resources is much higher than
conventional resources. The main technologies used for drilling the UCG
(unconventional gas) are hydraulic fracturing or “fracking” and
horizontal drilling.
One of the major commercially viable
unconventional gases is tight gas, which is found in sand areas or low
porosity silt where a tight fitting environment is created for the gas
and is produced using a combination of hydraulic fracturing and
directional drilling. Shale gas is found between the layers of shale,
and the same technique of combination of hydraulic fracturing and
directional drilling is used for its production. Coal bed methane (CBM)
is extracted from coal seams of extremely low permeability. Hydraulic
fracturing is not used in extracting CBM because it is often found near
drinking water reservoirs.
Some of the major barriers restraining
the growth of this market are availability of resources, accessibility
to reservoirs supplemented with availability of low cost services and
suppliers. Also, access to high value markets like Europe serves as a
major barrier. Increasing environmental considerations and the growing
need for energy security among nations have become major drivers for the
global gas market as a whole. For the unconventional gas market,
advancement of technology, including the latest drilling methods like
hydraulic fracturing, has served as a major driver.
Access to untapped markets which
entails heavy infrastructure to be in place to transport gas to the
market is still a major challenge for this sector. The high cost
involved in acquiring the latest technology acts as a hindrance to the
market restraining its growth. The global production of gas has grown by
40% from 1990 to 2009 which is twice that of oil and with the discovery
of new fields of unconventional gas like shale, it has been estimated
that over 200 years worth of gas is still remaining. This portrays
immense opportunity for growth in the sector.
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Some of the key players in this market
include British gas, Baker Hughes, Chesapeake Energy, Bow Energy Ltd.,
Chevron Corporations, Halliburton, Oil and Natural Gas Limited, General
Electric Company, China national offshore Oil Corporation, Hindustan
Petroleum corporation, Shell, ExxonMobil Corporation, and ConocoPhillips
Company.
This research report analyzes this
market depending on its market segments, major geographies, and current
market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of
current trends in the market, industry growth drivers, and restraints.
It provides market projections for the coming years. It includes
analysis of recent developments in technology, Porter’s five force model
analysis and detailed profiles of top industry players. The report also
includes a review of micro and macro factors essential for the existing
market players and new entrants along with detailed value chain
analysis.
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