Energy Council to launch Shale Gas report
The World Energy Council will launch its Shale Gas Report at the Africa Energy Indaba’s Africa Gas Forum in Sandton, Johannesburg, on Monday.
The report, titled “World Energy Resources – Unconventional gas, a global phenomenon”, would be launched by WEC secretary general Christoph Frei, the Africa Energy Indaba said in a statement.
“The report explores how the onset of unconventional gas supplies, led by the United States shale revolution, contributed to the structural shifts currently underway in global natural gas markets.”
The forum would consider the question: “In a context of low prices and new impetus for decarbonisation created by the outcome of the 21st Conference of the Parties, what role will unconventional gas play in the global future energy mix towards a sustainable energy future and where should South African natural gas position itself?”
According to the Africa Energy Indaba, the role of natural gas in the global energy mix appeared uncertain in 2016.
The so called “golden age of gas” was no longer in sight. Economic, geopolitical, and policy constraints had slowed demand growth in Asia and led to a decline in demand in Europe.
On the other hand, suppliers in Australia, the Middle East, Africa, and North America, who bet on old forecasts for Asian demand growth were bringing plenty of new supplies to the market.
Africa’s oil and gas potential was expected to grow significantly over the next two decades. Africa was endowed with natural resources that were changing the global energy landscape, with six of the top 10 global discoveries in the oil and gas sector in 2013 being made in Africa. However, Africa’s gas prospects had to viewed in the context of global gas markets.