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Gas could replace oil as primary energy source in U.S.: OTC poll

(Xinhua)

10:18, May 03, 2012

HOUSTON, May 2 (Xinhua) -- A surgery among delegates attending the ongoing Offshore Technology Conference (OTC) in the U.S. city of Houston has revealed that oil and gas professionals think unconventional gas production in the United States could cause gas to replace oil as the country's primary energy source.

Among the respondents, 56 percent thought gas will replace oil as the country's principal source of energy by the year of 2030. Forty-four percent thought that oil would remain dominant, according to the poll which also solicited online opinions of industry professionals.

The unconventional gas market in the U.S. is rapidly changing the local energy landscape, said Pekka Passivaara, executive board member of GL Noble Denton, an independent technical advisor which conducted the poll.

Shale gas accounted for barely two percent of U.S. natural gas production a decade ago, and the percentage is approaching 30 percent today and still rising, said Passivaara.

The poll shows how the American gas 'revolution' could grip the local energy market, said Passivarra, adding that the result of the poll also demonstrates the industry's confidence in the ability for the local unconventional gas market to compete.

Founded in 1969, the annual OTC is the world's foremost event for the development of offshore resources in the field of drilling, exploration, production and environmental protection.

This year's OTC, which kicked off Monday and will run through Thursday, draws more than 70,000 participants from over 100 countries and regions to its exhibition area in Houston.

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