1. Executive Summary
1.1 Overview of the Shale Gas Market
1.2 Highlights of the Report
1.3 Benefits of the Report
1.4 Methodology
1.5 The Global Shale Gas Market Forecast 2012-2022
1.6 Leading National Shale Gas Market Forecasts 2012-2022
2. Introduction to the Shale Gas Market
2.1 Global Shale Gas Resources
2.2 Global Shale Gas Market Emphasis
2.3 Shale Gas Economics
2.4 Current Trends in the Shale Gas Market
2.4.1 Natural Gas Prices
2.4.1.1 North America
2.4.1.2 The Rest of the World
2.4.2 Increasing Influence of Large Multi-National Companies
2.4.3 Growing Number of Joint Ventures
2.4.4 Improving Operational Efficiency and Better Technology
2.4.5 Shift from Gas to Liquids
2.4.6 Hedging not Managing to Cover Losses
3. The Global Shale Gas Market
3.1 The Global Shale Gas Market Forecast 2012-2022
3.2 Leading National Shale Gas Market Forecasts 2012-2022
3.3 National Shale Gas Market Share Forecast 2012, 2017 and 2022
4. The Leading National Shale Gas Markets
4.1 The US Shale Gas Market Forecast 2012-2022
4.1.1 The US Shale Gas Market Analysis
4.1.2 US Shale Gas Market Developments
4.1.3 Drivers and Restraints in the US Shale Gas Market
4.1.4 US Shale Gas Market Conclusions
4.2 The Canadian Shale Gas Market Forecast 2012-2022
4.2.1 Canadian Shale Gas Market Analysis
4.2.2 Canadian Shale Gas Market Developments
4.2.3 Drivers and Restraints in the Canadian Shale Gas Market
4.2.4 Canadian Shale Gas Market Conclusions
4.3 The Polish Shale Gas Market Forecast 2012-2022
4.3.1 Polish Shale Gas Market Analysis
4.3.2 Polish Shale Gas Market Developments
4.3.3 Drivers and Restraints in the Polish Shale Gas Market
4.3.4 Polish Shale Gas Market Conclusions
4.4 The Australian Shale Gas Market Forecast 2012-2022
4.4.1 Australian Shale Gas Market Analysis
4.4.2 Australian Shale Gas Market Developments
4.4.3 Drivers and Restraints in the Australian Shale Gas Market
4.4.4 Australian Shale Gas Market Conclusions
4.5 The Mexican Shale Gas Market Forecast 2012-2022
4.5.1 Mexican Shale Gas Market Analysis
4.5.2 Mexican Shale Gas Market Developments
4.5.3 Drivers and Restraints in the Mexican Shale Gas Market
4.5.4 Mexican Shale Gas Market Conclusions
4.6 The Chinese Shale Gas Market Forecast 2012-2022
4.6.1 Chinese Shale Gas Market Analysis
4.6.2 Chinese Shale Gas Market Developments
4.6.3 Drivers and Restraints in the Chinese Shale Gas Market
4.6.4 Chinese Shale Gas Market Conclusions
4.7 The Argentinean Shale Gas Market Forecast 2012-2022
4.7.1 Argentinean Shale Gas Market Analysis
4.7.2 Argentinean Shale Gas Market Developments
4.7.3 Drivers and Restraints in the Argentinean Shale Gas Market
4.7.4 Argentinean Shale Gas Market Conclusions
4.8 The Indian Shale Gas Market Forecast 2012-2022
4.8.1 Indian Shale Gas Market Analysis
4.8.2 Indian Shale Gas Market Developments
4.8.3 Drivers and Restraints in the Indian Shale Gas Market
4.8.4 Indian Shale Gas Market Conclusions
4.9 The Rest of Europe Shale Gas Market Forecast 2012-2022
4.9.1 The Rest of Europe Shale Gas Market Analysis
4.9.2 The Rest of Europe Shale Gas Market Developments
4.9.3 Drivers and Restraints in the Rest of Europe Shale Gas Market
4.9.4 Rest of Europe Shale Gas Market Conclusions
4.10 The Rest of the World Shale Gas Market Forecast 2012-2022
4.10.1 The Rest of the World Shale Gas Market Analysis
4.10.2 The Rest of the World Shale Gas Market Developments
4.10.3 Drivers and Restraints in the Rest of the World Shale Gas Market
4.10.4 The Rest of the World Shale Gas Market Conclusions
5. SWOT Analysis of the Shale Gas Market 2012-2022
5.1 Strengths
5.1.1 Growing Global Gas Demand
5.1.2 Greater Energy Independence
5.1.3 Adds to Energy Diversity
5.1.4 Lower Carbon Dioxide Emissions
5.2 Weaknesses
5.2.1 Regional Gas Pricing
5.2.2 Conventional Gas Reserves
5.2.3 Inconsistency of Shale Formations
5.2.4 Lack of Infrastructure
5.3 Opportunities
5.3.1 Untapped Shale Formations
5.3.2 Job Creation and Tax Income
5.3.3 Technological Challenges
5.3.4 Export Markets
5.4 Threats
5.4.1 Government Influence and Legislation
5.4.2 Public Opposition
5.4.3 Limited Water Resources
6. Expert Opinion
6.1 Devon Energy Corporation
6.1.1 Ideal Fracture Geologies
6.1.2 Importance of Well Data and Availability of Services
6.1.3 Overcoming Challenges in Shale Gas Development
6.1.4 Technologies Aiding Optimisation of Drilling and Hydraulic Fracturing
6.1.5 Finding the Sweet Spots
6.1.6 The Growing Importance of NGLs
6.1.7 Promising Emerging Shale Formations
6.1.8 Opportunities for the Shale Gas Industry Outside of the US
6.2 FEI Company
6.2.1 Advantages of Multi-Scale Imaging in the Shale Gas Industry
6.2.2 Microscopy to Optimise Fracturing Efficiency
6.2.3 The Importance of Nano-Scale Knowledge
6.2.4 Demand for Electron Microscopy in the Shale Gas Market
6.2.5 Areas of Growing Shale Gas Study
6.2.6 Shale Gas Imaging Example
7. Leading Companies in the Shale Gas Market
7.1 Anadarko Petroleum Corporation
7.2 Antero Resources
7.3 Apache Corporation
7.4 Beach Energy
7.5 BHP Billiton
7.6 BP
7.7 Cabot Oil and Gas Corporation
7.8 Carrizo Oil and Gas, Inc.
7.9 Chesapeake Energy Corporation
7.10 Chevron Corporation
7.11 China National Offshore Oil Corporation (CNOOC)
7.12 ConocoPhillips Company
7.13 CONSOL Energy Inc.
7.14 Devon Energy Corporation
7.15 Encana Corporation
7.16 EOG Resources, Inc.
7.17 EQT Corporation
7.18 Exco Resources, Inc.
7.19 ExxonMobil Corporation
7.20 Hess Corporation
7.21 Marathon Oil
7.22 Murphy Oil Corporation
7.23 Newfield Exploration Company
7.24 Nexen Inc.
7.25 Noble Energy Inc.
7.26 PetroChina Company Limited
7.27 PGNiG
7.28 Pioneer Natural Resources
7.29 QEP Resources
7.30 Range Resources Corporation
7.31 Reliance Industries Limited
7.32 Royal Dutch Shell
7.33 Seneca Resources
7.34 Sinopec (China Petroleum and Chemical Corporation)
7.35 SM Energy Company
7.36 Southwestern Energy Company
7.37 Statoil
7.38 Talisman Energy, Inc.
7.39 Total
7.40 Ultra Petroleum
8. Conclusions
8.1 The Global Shale Gas Market 2012-2022
8.2 The Major Shale Gas Markets 2012-2022
8.3 The Fastest Growing National Shale Gas Markets 2012-2022
8.4 Strong Growth National Shale Gas Markets 2012-2022
8.5 The Rest of the World Shale Gas Markets 2012-2022
8.6 Concluding Remarks on the Shale Gas Market
9. Glossary
List of Tables
Table 3.1 Global Shale Gas Market Forecast 2012-2022 ($m, AGR %)
Table 3.2 Global Shale Gas Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022
Table 3.3 Leading National Shale Gas Markets Forecast 2012-2022 ($m, AGR %)
Table 3.4 Leading National Shale Gas Markets Forecast CAGR (% + Rank) 2012-2022, 2012-2017, and 2017-2022
Table 4.1 US Shale Gas Market Forecast Summary 2012, 2017 and 2022 ($m, Rank, % Share, CAGR %, Cumulative)
Table 4.2 US Shale Gas Market Forecast 2012-2022 ($m, AGR %)
Table 4.3 US Shale Gas Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022
Table 4.4 Canadian Shale Gas Market Forecast Summary 2012, 2017 and 2022 ($m, Rank, % Share, CAGR %, Cumulative)
Table 4.5 Canadian Shale Gas Market Forecast 2012-2022 ($m, AGR %)
Table 4.6 Canadian Shale Gas Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022
Table 4.7 Polish Shale Gas Market Forecast Summary 2012, 2017 and 2022 ($m, Rank, % Share, CAGR %, Cumulative)
Table 4.8 Polish Shale Gas Market Forecast 2012-2022 ($m, AGR %)
Table 4.9 Polish Shale Gas Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022
Table 4.10 Australian Shale Gas Market Forecast Summary 2012, 2017 and 2022 ($m, Rank, % Share, CAGR %, Cumulative)
Table 4.11 Australian Shale Gas Market Forecast 2012-2022 ($m, AGR %)
Table 4.12 Australian Shale Gas Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022
Table 4.13 Mexican Shale Gas Market Forecast Summary 2012, 2017 and 2022 ($m, Rank, % Share, CAGR %, Cumulative)
Table 4.14 Mexican Shale Gas Market Forecast 2012-2022 ($m, AGR %)
Table 4.15 Mexican Shale Gas Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022
Table 4.16 Chinese Shale Gas Market Forecast Summary 2012, 2017 and 2022 ($m, Rank, % Share, CAGR %, Cumulative)
Table 4.17 Chinese Shale Gas Market Forecast 2012-2022 ($m, AGR %)
Table 4.18 Chinese Shale Gas Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022
Table 4.19 Argentinean Shale Gas Market Forecast Summary 2012, 2017 and 2022 ($m, Rank, % Share, CAGR %, Cumulative)
Table 4.20 Argentinean Shale Gas Market Forecast 2012-2022 ($m, AGR %)
Table 4.21 Argentinean Shale Gas Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022
Table 4.22 Indian Shale Gas Market Forecast Summary 2012, 2017 and 2022 ($m, Rank, % Share, CAGR %, Cumulative)
Table 4.23 Indian Shale Gas Market Forecast 2012-2022 ($m, AGR %)
Table 4.24 Indian Shale Gas Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022
Table 4.25 Rest of Europe Shale Gas Market Forecast Summary 2012, 2017 and 2022 ($m, % Share, CAGR %, Cumulative)
Table 4.26 Rest of Europe Shale Gas Market Forecast 2012-2022 ($m, AGR %)
Table 4.27 Rest of Europe Shale Gas Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022
Table 4.28 Rest of the World Shale Gas Market Forecast Summary 2012, 2017 and 2022 ($m, % Share, CAGR %, Cumulative)
Table 4.29 Rest of the World Shale Gas Market Forecast 2012-2022 ($m, AGR %)
Table 4.30 Rest of the World Shale Gas Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022
Table 5.1 SWOT Analysis of the Shale Gas Market 2012-2022
List of Figures
Figure 2.1 Regional Shale Gas Resource Estimates (tcf)
Figure 2.2 Global Distribution of Capital Spending on Shale Gas 2011 (%)
Figure 2.3 Break-even Prices for Top North American Shale Plays & 2012 Average NYMEX gas price ($/MMBtu)
Figure 2.4 US Spot Gas Price History with Short Term Forecast and NYMEX Futures 2011-2014 ($/MMBtu)
Figure 2.5 US and European Natural Gas Price with Japanese LNG Price 2008-2012 ($/MMBtu)
Figure 2.6 US Onshore Oil and Gas Rig Count and Crude to Natural Gas Price Ratio 2000-2011 (Units & %)
Figure 3.1 Global Shale Gas Market Forecast 2012-2022 ($m)
Figure 3.2 US, Canadian and Chinese Shale Gas Markets Forecast 2012-2022 ($m)
Figure 3.3 Other National and Rest of the World Shale Gas Markets Forecast 2012-2022 ($m)
Figure 3.4 Leading National Shale Gas Market Share Forecast 2012 (%)
Figure 3.5 Leading National Shale Gas Market Share Forecast 2017 (%)
Figure 3.6 Leading National Shale Gas Market Share Forecast 2022 (%)
Figure 4.1 US Shale Gas Market Share Forecast 2012, 2017 and 2022 (% Share)
Figure 4.2 US Shale Gas Market Forecast 2012-2022 ($m)
Figure 4.3 Henry Hub Natural Gas Price 2008-2012 ($/MMBtu)
Figure 4.4 Monthly US Shale Play Dry Gas Output 2010-2012 (Bcf/d)
Figure 4.5 Canadian Shale Gas Market Share Forecast 2012, 2017 and 2022 (% Share)
Figure 4.6 Canadian Shale Gas Market Forecast 2012-2022 ($m)
Figure 4.7 Polish Shale Gas Market Share Forecast 2012, 2017 and 2022 (% Share)
Figure 4.8 Polish Shale Gas Market Forecast 2012-2022 ($m)
Figure 4.9 Australian Shale Gas Market Share Forecast 2012, 2017 and 2022 (% Share)
Figure 4.10 Australian Shale Gas Market Forecast 2012-2022 ($m)
Figure 4.11 Mexican Shale Gas Market Share Forecast 2012, 2017 and 2022 (% Share)
Figure 4.12 Mexican Shale Gas Market Forecast 2012-2022 ($m)
Figure 4.13 Chinese Shale Gas Market Share Forecast 2012, 2017 and 2022 (% Share)
Figure 4.14 Chinese Shale Gas Market Forecast 2012-2022 ($m)
Figure 4.15 Argentinean Shale Gas Market Share Forecast 2012, 2017 and 2022 (% Share)
Figure 4.16 Argentinean Shale Gas Market Forecast 2012-2022 ($m)
Figure 4.17 Indian Shale Gas Market Share Forecast 2012, 2017 and 2022 (% Share)
Figure 4.18 Indian Shale Gas Market Forecast 2012-2022 ($m)
Figure 4.19 Rest of Europe Shale Gas Market Share Forecast 2012, 2017 and 2022 (% Share)
Figure 4.20 Rest of Europe Shale Gas Market Forecast 2012-2022 ($m)
Figure 4.21 Rest of the World Shale Gas Market Share Forecast 2012, 2017 and 2022 (% Share)
Figure 4.22 Rest of the World Shale Gas Market Forecast 2012-2022 ($m)
Figure 5.1 Carbon Dioxide Emissions by Major Fossil Fuels (kg/kWh)
Figure 6.1 Nano-scale Magnification of a Horn River Kerogen Sample
Companies Listed
3Legs Resources
3M
Americas Petrogas
Anadarko Petroleum Corporation
Antero Resources
Apache Canada
Apache Corporation
Athabasca Oil Sands Corp
Atlas Energy
BC LNG Export Co-operative (BC LNG)
Beach Energy
BG Group
BHP Billiton
BP
Buru Energy
Cabot Oil & Gas Corporation
Carrizo Oil & Gas, Inc.
Central Petroleum
Cheniere Energy
Chesapeake Energy Corporation
Chevron Corporation
China National Offshore Oil Corporation (CNOOC)
China National Petroleum Corporation (CNPC)
China Petroleum and Chemical Corp (Sinopec)
ConocoPhillips Company
CONSOL Energy Inc.
Cuadrilla Resources
Devon Energy Corporation
Drillsearch
Encana Corporation
EnerVest
Eni
EOG Resources Inc.
EOG Resources Canada
EQT Corporation
Exco Resources, Inc.
ExxonMobil Corporation
FEI Company
GAIL India Ltd
Gas y Petroleo
Gastem Inc.
General Electric (GE)
Halliburton
Henan Provincial Coal Seam Gas Development and Utilization Co.
Hess Corporation
IGas Energy
Korea Gas Corporation (Kogas)
Lane Energy
Lippman Consulting, Inc.
LNG Partners
Marathon Oil
Mitsubishi
Mitsui
Murphy Oil Corporation
Naftogaz
National Fuel Gas
Newfield Exploration Company
New Standard Energy
Nexen, Inc.
Noble Energy Inc.
Oil and Natural Gas Corporation Ltd (ONGC)
OMV
OMV Petrom
Origin Energy
PetroChina Company Limited
Petrofrac
Petroleos Mexicanos (Pemex)
PGNiG (Polskie Górnictwo Naftowe i Gazownictwo)
Pioneer Natural Resources
QEP Resources
Questerre Energy
Range Resources Corporation
Reliance Industries Limited
Repsol YPF
Royal Dutch Shell (Shell)
San Leon Energy
Santos
Sasol
Schlumberger
Seneca Resources
Shaanxi Yanchang Petroleum Group
SM Energy Company
Southwestern Energy Company
Statoil
Talisman Energy, Inc.
TNK-BP
Total
TPAO
Transatlantic Petroleum
Trilogy
TÜV Austria
Ultra Petroleum
Valeura Energy
XTO Energy
YPF
Government Agencies and Other Organisations Mentioned in This Report
Assembly of First Nation Chiefs of Canada
Commonwealth of Independent States (CIS)
Canadian Society for Unconventional Resources (CSUG)
Department of Energy and Climate Change (DECC) (UK)
Energy Information Administration (EIA)
Environment Agency (Austria)
European Union (EU)
Haisla Nation
Ministry of Land and Resources (China)
Ministry of Water Resources (China)
National Energy Board (NEB) (Canada)
New York Mercantile Exchange (NYMEX)
Polish Geological Institute
Society of Petroleum Engineers (SPE)
United States Geological Survey (USGS)
University of Antwerp
World Bank