General Meeting - The Role of Technology in Meeting US Gas Supply
Gas supplies about 25% of the US energy needs, fuels 19% of electric power generation and heats about 60 million households. It plays a key role in powering the US economy. Demand continues to grow fueled in part by the increasing use of gas in power generation. Production from conventional areas is in decline despite relatively high activity levels. As an industry we have achieved substantial success in applying advances in technology, however, as conventional areas continue to mature we face decreasing recovery from wells and increasing decline rates. Supply will not be able to meet projected demand unless additional volumes are developed. These include increasing volumes from non conventional areas such as tight gas sands, volumes from Alaska and the McKenzie Delta, imported LNG and emerging plays such as the deep shelf in the Gulf of Mexico.
Location:
Petroleum Club