A Review of the Nigerian Energy Industry

Gas to topple oil as US major energy source in 2030

02 May 2012, Sweetcrude, HOUSTON – A POLL by GL Noble Denton of delegates at the ongoing Offshore Technology Conference, OTC, holding in Houston,Texas, shows that natural gas would likely overtake oil as the major source of energy in the United States by 2030.

The poll sowed that US would witness a period of less dependence on oil following recent efforts at developing shale gas.

Gas will consequently become the much-desired energy source, the poll said.

Pekka Paasivaara, a member of the board of GL Group, said in a statement: “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.”

The poll showed that 56% of delegates polled said gas was on its way to supplanting oil by 2030, while another 44% said oil would retain its top spot.

Only 2% of US gas production came from shale a decade ago, Noble Denton said. Today shale gas accounts for nearly 30% of US production.

Shale gas accounted for barely 2% of US natural gas production a decade ago. Today it is approaching 30% and rising.

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