5 sep rfc buenos aries presentation
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The document discusses the shale oil and gas potential in Latin America and compares it to global resources. It highlights the strong position of countries like the U.S. and Argentina in shale energy and the possible impact on the global gas market, assuming certain environmental and regulatory conditions are met. The report also emphasizes the importance of best practices in sustainable development of unconventional gas resources.
5 sep rfc buenos aries presentation
- 1. A Game-Changer for Latin America? Defining the Region’s Shale Potential by Global Comparison World Shale Oil & Gas: Latin America Summit Buenos Aires, 5 September 2013 Robert F. Cekuta Principal Deputy Assistant Secretary Bureau of Energy Resources U.S. Department of State
- 2. 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 Proved Reserves Unproved Shale TRR Unproved Conventional TRR North America South America Orinoco Oil Sands ROW Western Hemisphere O&G Resources: Abundant but complex Data source: EIA, Technically Recoverable Shale Oil and Shale Gas Resources, 2013 (Orinoco and oil sands figures from 2012 BP Statistical Review). Natural Gas Resources Oil Resources 0 1 2 3 4 5 6 7 8 9 10 Proved Reserves Unproved Shale TRR Unproved Conventional TRR Quadrillion cubic feet Billion Barrels
- 3. 0 10 20 30 40 50 60 2000 2005 2010 2015 2020 2025 Indonesia Australia Pakistan India China South Africa Morocco Algeria Western Europe Ukraine Baltics Poland Southern Cone Venezuela/Colombia Mexico Canada US Trillion cubic feet Possible Shale Impact on Global Gas Market Key Assumptions • Recoverable resources one-quarter of EIA estimates • Environmental, regulatory, legal & policy measures in place • Production ramp up similar to U.S. Barnett shale play • Ultimate recovery per well & drilling rates similar to Barnett
- 4. U.S., Argentina, and other countries in the Hemisphere among top holders of shale O&G Source: EIA, Technically Recoverable Shale Oil and Shale Gas Resources 0 10 20 30 40 50 60 70 80 0 200 400 600 800 1,000 1,200 Top 10 countries with technically recoverable shale gas resources (trillion cubic feet) Top 10 countries with technically recoverable shale oil resources (billion barrels)
- 5. Drygasproductionbillioncubicmeters(bcm) ProjectionsHistory 2011 U.S. Natural Gas Supply by Source Nonassociated onshore Associated with oil Coalbed methane Nonassociated offshore Alaska Tight gas Shale gas 0 100 200 300 400 500 600 700 800 900 1000 1990 1995 2000 2005 2010 2015 2020 2025 2030 2035 2040 50% 34% 6% 6% 4% 22% 16% 9% 7% 7% 2% 25% 6% 5% Source: EIA, AE0 2013
- 6. Projected U.S. Shale Gas Production, 2009-2035 0 4 8 12 2009 2014 2019 2024 2029 2034 Trillion cubic feet Production by well vintage
- 7. -50 0 50 100 150 200 2000 2005 2010 2015 2020 2025 History 2005 Forecast 2013 Forecast Rising U.S. shale gas supplies transform U.S. import needs Sources: Energy Information Administration, Annual Energy Outlooks 2005 and 2013 7 Billion cubic meters per annum Evolution of U.S. Net LNG Imports: History and Forecasts 2012: 80 bcm 2025: 207 bcm Net Imports Net Exports In 2005, net U.S. LNG imports were expected to reach 83 bcm by 2012. Instead, they fell to 4 bcm. EIA now projects the U.S. will become a net LNG exporter.
- 8. Sharing Best Practices Sustainable Unconventional Gas Development Fiscal Incentives Reducing Seismic Impact Community Engagement Overcoming Infrastructure Challenges Protecting Water Quality Water Supply Management