The International Energy Agency this week released a blockbuster report called “Are We Entering A Golden Age of Gas?”
The answer is, pretty much:
“The global natural gas resource base is vast and widely dispersed geographically. Conventional recoverable resources are equivalent to more than 120 years of current global consumption, while total recoverable resources could sustain today’s production for over 250 years.”
Here’s a great map showing how the world’s gas deposits are distributed.
CBM stands for coal bed methane. Cumulative production is the difference in how much gas has been extracted versus magnitude of gas deposits known to exist. The rest is pretty self-explanatory.
The key takeaway is the conventional versus unconventional dynamic. Russia and Eastern Europe still lead in conventional resources, but North America has just about caught up in shale.