The economic and logistical hurdles facing large-scale unconventional gas development outside the existing hotspots of North America and eastern Australia mean substantial volumes on a global scale are unlikely before 2020, consultant Wood Mackenzie says. In a new report, UK-based Woodmac reckons 1,400 trillion cubic feet of unconventional gas resources - defined as coalbed methane (CBM), tight gas and shale gas - are available across North and South America, Europe, Africa, Asia and Australasia. It says US unconventional gas production from all three sources will meet 70% of US gas demand by 2017, precluding the need for any LNG imports, while CBM production will satisfy more than 50% of eastern Australian gas demand by 2015, as well as support a major LNG export industry.
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