Shale Gas Transforming Into Global Commodity

Industry experts who gathered at the Colorado Oil & Gas Association's annual Rocky Mountain Energy Conference in Denver earlier this month agreed that shale gas in on its way to becoming a global commodity.

An article on PennEnergy.com reports that research leaders such as Wood Mackenzie's Robert Clarke and DMP Resources' Donald Hertzmark believe that while shale gas growth internationally has been "slow," there is "a bright future" for this booming resource.

Clarke also said the emergence of liquid natural gas (LNG) in markets around the world shows that getting shale gas to new markets could be both "feasible and cost-efficient."

By 2020, the decommissioning of older US coal plants will make natural gas the fuel of choice and could create about 4.7 to 5.0 billion cubic feet per day of incremental gas demand, the article states.

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