Recoverable Resources Surpass 48-year History
By Michael Reed, Managing Editor, Pipeline and Gas Journal
The United States closed out 2012 with a technically recoverable natural gas resource potential of 2,384 Tcf – the nation’s highest level during the 48 year history of the nonprofit Potential Gas Committee’s (PGC) biennial report.
Released in coordination with the American Gas Association (AGA), the report, titled Potential Supply of Natural Gas, showed recoverable resources surpassed the previously high level recorded in 2010 by 26%, or 486 Tcf. Most of the growth can be attributed to new evaluations of shale gas resources in the Atlantic, Rocky Mountain, Gulf Coast regions, the data showed.
“Technically recoverable resource” is defined as the amount of gas expected to be eventually recoverable using existing technology. This includes probable, possible and speculative resources.
“This ground up, science-based assessment emphasizes our nation’s robust supply of natural gas, and confirms that we can continue to rely on abundant, clean natural gas for our future energy needs,” said Dave McCurdy, AGA president and CEO. “By investing in our energy future and harnessing the promises of this resource, we can look forward to decades of market stability – and that’s great news for our customers.”