Global unconventional gas market revenues forecast to increase by 4.7% during 2013 to 2018
Global Unconventional Gas Market 2014-2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-11 09:41:01
The Global Unconventional Gas market is forecast to grow at a CAGR of 4.7 percent over the period 2013-2018. One of the key factors contributing to this market growth is the depleting conventional gas reserves. The Global Unconventional Gas market has also been witnessing rapid technological advancements. However, the capital-intensive market could pose a challenge to the growth of this market.
Key vendors dominating this space are Arrow Energy Pty Ltd., BG Group plc, BP plc, Chesapeake Energy Corp., Chevron Corp., Dart Energy Ltd., Devon Energy Corp., ExxonMobil Corp., and Royal Dutch Shell plc.
Other vendors mentioned in the report are Aberdeen Drilling Management Ltd., Alkane Energy, Baker Hughes Inc., BHP Billiton Group, Cathy Oil and Gas Ltd., China United Coalbed Methane Corp., Constellation Energy Group, Devon Energy Corp., Double Eagle Petroleum Co., Encana Corp., Essar Energy Plc, Gazprom Oao, GDF Suez S.A., Halliburton Co., Mitsubishi Corp., Penn Virginia Corp., Osaka Gas Co. Ltd., Sinopec Ltd, Storm Cat Energy Corp., Strait Oil & Gas Ltd., Tlou Energy, Total S.A., and Warren Resources Inc.
The following companies represent the key players in Global Unconventional Gas Market: Arrow Energy Pty Ltd., BG Group plc, BP plc, Chesapeake Energy Corp., Chevron Corp., Dart Energy Ltd., Devon Energy Corp., ExxonMobil Corp., and Royal Dutch Shell plc.
Over the years, there has been a tremendous increase in the technological advancements that have led to the increase in extraction of unconventional gas from reservoirs. The technological advancements include unlocking the potential of unconventional gas, managing produced water, development and determination of gas, well log interpretation, and the development of well simulation models. Also, the market vendors are increasing their investments in R&D, which in turn is reducing the time and cost for horizontal drilling. Moreover, the overall volume of production, cost, and risk has significantly reduced due to the rapid technological advancements in the industry. Therefore, the rapid technological advancements are one of the key trends that are expected to propel the growth of the Global Unconventional Gas market during the forecast period.
One of the main drivers in this market is the depleting conventional gas reserves across the globe. Due to the depleting conventional gas sources, governments across the globe are forced to shift their focus on alternative sources of gas supply, thereby propelling the growth of the market during the forecast period.
Further, one of the major challenges confronting the market is the capital-intensive nature of the unconventional gas projects. The extraction of unconventional gas such as CBM and shale gas requires strong technical expertise and use of advanced technology. This in turn increases the overall cost of the projects.
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