China has the largest shale gas reserves
Mounting investments to propel shale gas market in Asia
Although North America predominates in the global shale gas market, Asia is a strong contender. A number of Asian shale gas companies have collaborated with large international industry leaders and investments by government and private organizations have also escalated in the field. Inspired by the success of North America, countries such as China have increased the import of technology as well as gas from the region, leading to wide-scale shale gas production in Asia. China has the largest shale gas reserves and ranks first followed by Argentina, Algeria and Mexico.
Europe too has the potential for considerable growth owing to its significant amount of shale gas reserves. However, due to public outcry and stringent regulations, the growth is expected to be slow. The region is yet to make an effective switch from conventional to unconventional gases. Even today, a whopping 60% of Eastern Europe and Eurasia is still using conventional gas resources.
Shale gas market – Segment analysis
The global market can be segmented on the basis of technology, application, and geography. The three primary technologies used for the production of shale gas are water usage issue, hydraulic fracturing, and horizontal drilling. There have been rising applications of shale gas in various areas such as commercial, power generation, transportation, industrial, and residential. The two key regions that fall under the global shale gas market are Asia-Pacific and North America.
