Collection of Energy-Related Articles

[offshore-engineer]

http://www.economist.com/node/21556242

Shale of the century
The “golden age of gas” could be cleaner than greens think
Jun 2nd 2012 | from the print edition

AMERICA’S “unconventional” gas boom continues to amaze. Between 2005 and 2010 the country’s shale-gas industry, which produces natural gas from shale rock by bombarding it with water and chemicals—a technique known as hydraulic fracturing, or “fracking”—grew by 45% a year. As a proportion of America’s overall gas production shale gas has increased from 4% in 2005 to 24% today. America produces more gas than it knows what to do with. Its storage facilities are rapidly filling, and its gas price (prices for gas, unlike oil, are set regionally) has collapsed. Last month it dipped below $2 per million British thermal units (mBtu): less than a sixth of the pre-boom price and too low for producers to break even.

Those are problems most European and Asian countries, which respectively pay roughly four and six times more for their gas, would relish. America’s gas boom confers a huge economic advantage. It has created hundreds of thousands of jobs, directly and indirectly. And it has rejuvenated several industries, including petrochemicals, where ethane produced from natural gas is a feedstock.

The gas price is likely to rise in the next few years, because of increasing demand. Peter Voser, the boss of Royal Dutch Shell, an oil firm with big shale-gas investments, expects it to double by 2015. Yet it will remain below European and Asian prices, so the industry should still grow. America is estimated to have enough gas to sustain its current production rate for over a century.

This is astonishing. Barely five years ago America was expected to be a big gas importer. Between 2000 and 2010 it built infrastructure to regasify over 100 billion cubic metres (bcm) of imported liquefied natural gas (LNG). Yet in 2011 American LNG imports were less than 20 bcm. Efforts are now under way to convert idle regasification terminals into liquefaction facilities, in order to export LNG. Plans for a terminal in Sabine Pass, Louisiana, are expected to be approved in June.

The shock waves of America’s gas boom are being felt elsewhere. Development of Russia’s vast Shtokman gasfield, in the Barents Sea—a $40 billion project which was intended to supply America with LNG—has stalled. Qatari LNG, once earmarked for America, is going to energy-starved Japan. Yet a bigger change is expected, with large-scale shale-gas production possible in China, Australia, Argentina and several European countries, including Poland and Ukraine.

Last year the International Energy Agency released a boosterish report entitled “Are we entering a golden age of gas?” On May 29th it released a follow-up, from which it dropped the question-mark. It foresees a tripling in the supply of unconventional gas between 2010 and 2035, leading to a slower price rise than would otherwise be expected. It expects this to boost global demand by more than 50%.

Free to frack in America

Not everyone is so bullish. America’s shale-gas boom was fuelled by a coincidence of factors: “open access” pipeline regulation, which inspired wildcat exploration; abundant drill-rigs and other infrastructure; and strong property rights, whereby landowners own the rights to minerals beneath their holdings. Few of these conditions exist elsewhere.

Europe has a good pipeline network, which in theory is open to all. Yet the pipes get tied up years in advance. European landowners typically do not own the minerals under their land, so they have little incentive to encourage exploration. Also, Europe is crowded, so its NIMBYs are noisy.

China has a different sort of problem: a shortage of water, of which millions of gallons can be required to frack a single well. The Argentine government’s recent decision to grab control of the country’s largest oil firm, YPF, will scare off the foreign investment its shale industry needs.

Such hurdles will make the pace, and perhaps scale, of America’s boom hard to equal. And even a big increase in supply might not bring down the European gas price much. Unlike the price in America, it is tied to the oil price, thanks to long-term Russian and Norwegian export contracts.

Shale-gas producers also face opposition from greens, who object to the industry’s heavy water usage and a small risk that fracking could lead to contamination of aquifers and even to earthquakes. There is also a risk that large amounts of methane, a powerful greenhouse gas, could escape during shale-gas exploration and production. The IEA estimates that shale-gas production emits 3.5% more than conventional gas, and 12% when it involves venting excess gas. France and Bulgaria have banned fracking; American and Australian anti-frackers are also rallying.

The greens have a case, but they exaggerate it. So long as well-shafts are properly sealed, there is hardly any risk that fracking will poison groundwater. By eliminating venting, methane emissions can be kept to an acceptable minimum. And the risk of earthquakes, which has long been present in conventional oil-and-gas extraction, is modest and mitigated by monitoring. The IEA says such precautions would add 7% to the cost of a shale-gas well—a small price for a healthy industry.

But they would not address the big problem with shale gas and all fossil fuels: the global warming they cause. Without a serious effort to boost renewable energy and other low-carbon technologies, the IEA envisages warming of over 3.5°C. That could be unaffordable.

[offshore-engineer]

http://www.iea.org/newsroomandevents/pr ... 66,en.html

Full report can be downloaded from
http://www.worldenergyoutlook.org/media ... Report.pdf

IEA sets out the “Golden Rules” needed to usher in a Golden Age of Gas
29 May 2012

Exploiting the world’s vast resources of unconventional natural gas holds the key to a golden age of gas, but for that to happen governments, industry and other stakeholders must work together to address legitimate public concerns about the associated environmental and social impacts. A special World Energy Outlook report on unconventional gas, Golden Rules for a Golden Age of Gas, released today in London by the International Energy Agency, presents a set of “Golden Rules” to meet those concerns.

“The technology and the know-how already exist for unconventional gas to be produced in an environmentally acceptable way,” said IEA Executive Director Maria van der Hoeven. “But if the social and environmental impacts are not addressed properly, there is a very real possibility that public opposition to drilling for shale gas and other types of unconventional gas will halt the unconventional gas revolution in its tracks. The industry must win public confidence by demonstrating exemplary performance; governments must ensure that appropriate policies and regulatory regimes are in place.”

The Golden Rules underline the importance of full transparency, measuring and monitoring of environmental impacts and engagement with local communities; careful choice of drilling sites and measures to prevent any leaks from wells into nearby aquifers; rigorous assessment and monitoring of water requirements and of waste water; measures to target zero venting and minimal flaring of gas; and improved project planning and regulatory control.

At their recent Camp David summit, G8 leaders welcomed and agreed to review this IEA work on potential best practices for natural gas development. “To build on the Golden Rules, we are establishing a high-level platform so that governments can share insights on the policy and regulatory action that can accompany an expansion in unconventional gas production, shale gas in particular,” said Maria van der Hoeven. “This platform will be open to IEA members and non-members alike”.

“If this new industry is to prosper, it needs to earn and maintain its social license to operate,” said IEA Chief Economist Fatih Birol, the report’s chief author. “This comes with a financial cost, but in our estimation the additional costs are likely to be limited.” Applying the Golden Rules could increase the cost of a typical shale-gas well by around 7%, but, for a larger development project with multiple wells, investment in measures to reduce environmental impacts may in many cases be offset by lower operating costs.

The report argues that there is a critical link between the way governments and industry respond to these social and environmental challenges and the prospects for unconventional gas production. Accordingly, the report sets out two possible future trajectories for unconventional gas:

In a Golden Rules Case, the application of these rules helps to underpin a brisk expansion of unconventional gas supply, which has far-reaching consequences:

World production of unconventional gas, primarily shale gas, more than triples between 2010 and 2035 to 1.6 trillion cubic metres.
The United States becomes a significant player in international gas markets, and China emerges as a major producer.
New sources of supply help to keep prices down, stimulate investment and job creation in unconventional resource-rich countries, and generate faster growth in global gas demand, which rises by more than 50% between 2010 and 2035.
By contrast, in a Low Unconventional Case where no Golden Rules are in place, a lack of public acceptance means that unconventional gas production rises only slightly above current levels by 2035. Among the results:

The competitive position of gas in the global fuel mix deteriorates amidst lower availability and higher prices, and the share of gas in energy use barely increases.
Energy-related CO2 emissions are higher by 1.3% compared with the Golden Rules Case but, in both cases, emissions are well above the trajectory required to reach the globally agreed goal of limiting the temperature rise to 2°C.

[Tsurumi]

มีข่าวว่ารบ.ไทย จะปรับปรุงแก้ไข Power Development Plan 20xx วันนี้หรือพรุ่งนี้พอมีรายละเอียดแบ่งปันใหมครับ ขอบคุณครับ

[offshore-engineer]

ครบถ้วนและเข้าใจง่ายดีครับสำหรับ BP Stat Review of World Energy 2012

http://www.bp.com/liveassets/bp_interne ... video.html

[offshore-engineer]

The Economist, Jul 14th 2012
Special Report: Natural Gas
Content
1. An unconventional bonanza, http://www.economist.com/node/21558432
2. America’s bounty, Gas works, http://www.economist.com/node/21558459
3. Fracking, Landscape with well, http://www.economist.com/node/21558462
4. European worries, Sorting frack from friction, http://www.economist.com/node/21558458
5. Global reserves, A world of plenty, http://www.economist.com/node/21558457
6. Gas pricing in Europe, Careful what you wish for, http://www.economist.com/node/21558433
7. LNG, A liquid market, http://www.economist.com/node/21558456
8. Energy policy, A better mix, http://www.economist.com/node/21558455

[offshore-engineer]

The Economist, Jul 14th 2012
Special Report: Natural Gas
Content
1. An unconventional bonanza, http://www.economist.com/node/21558432
2. America’s bounty, Gas works, http://www.economist.com/node/21558459
3. Fracking, Landscape with well, http://www.economist.com/node/21558462
4. European worries, Sorting frack from friction, http://www.economist.com/node/21558458
5. Global reserves, A world of plenty, http://www.economist.com/node/21558457
6. Gas pricing in Europe, Careful what you wish for, http://www.economist.com/node/21558433
7. LNG, A liquid market, http://www.economist.com/node/21558456
8. Energy policy, A better mix, http://www.economist.com/node/21558455

I have converted above articles into pdf format. Unfortunately, I can't post it here (the system doesn't accpet pdf format). If you are interested in it then just pm me with your email address and I will forward it to you.

[leaderinshadow]

ขอบคุณครับ

ข้อมูลดีมากๆ
จะทยอยอ่านไปเรื่อยครับ

[offshore-engineer]

A number of interesting publications from Australian Bureau of Resources and Energy Economics

1. Gas Market Report, July 2012

http://www.bree.gov.au/documents/public ... Report.pdf

2. Australian Bulk and Commodity Exports and Infrastructure - Outlook to 2025

http://www.bree.gov.au/documents/public ... Report.doc

3. Resources and Energy Quarterly, June Quarter 2012

http://www.bree.gov.au/documents/public ... n-2012.pdf

[offshore-engineer]

Extracted from page 14 of the Gas Market Report.

Box 2.2: Will China replicate the US shale gas experience?

US shale gas production more than tripled between 2007 and 2010, underpinned by a combination of relatively high gas prices and developments in horizontal drilling technology. The development of the shale gas industry has had a profound effect on the North American gas market. North America is currently only a small LNG importer, whereas five years ago it appeared likely that there would be a need for significant LNG imports before 2010. The expectation of significant imports resulted in the construction of a large amount of import infrastructure in the second half of the last decade. As a result of increased domestic supply, this import infrastructure is heavily underutilised. US gas prices have fallen rapidly, with increased domestic production. For instance, the key US marker, the Henry Hub price, fell from US$12 per GJ in June 2008 to below US$2 per GJ in April 2012.

While shale gas exploration in China is in its infancy, a number of preliminary studies have identified substantial resources. The development of the shale gas industry in China, however, faces challenges not present in the US. For example, US shale gas is generally located around 1500 to 3500 metres below the surface. By contrast, in China the shale is understood to be located further underground—generally at depths 3500 metres below the earth’s surface. The shale geology in China is generally more challenging than in the US with more fracturing required to extract the latent gas. The carbon (or energy) content in China’s shales is also understood to be around 1–5 per cent, whereas in the US it is, typically, around 5–10 per cent (PetroChina 2012).

The topography of the landscape affects the economics of shale gas production, as it alters the number of wells that need to be drilled and the cost of establishing a pipeline network. The most prospective areas for shale gas in China are in the province of Sichuan in central China, the Tarim Basin in the far west, and Inner Mongolia in the north.

The shale gas resources of Sichuan are located in the mountainous parts, but the region also has a long history of gas production. In the north and west of China, limited water is available, which is a critical input into the fracturing process.

By contrast, in the US, shale gas is located in areas of generally flat terrain, making drilling comparatively easy. There is also substantial infrastructure in place that, combined with an advanced market and regulatory structure that allows third party access to infrastructure, has enabled rapid increases in shale gas production to be marketed efficiently.

[sorageol46]

ขอเอามาลงด้วยนะครับพี่


Major Oil Companies Are Betting This African Country Will Be The Next Boom Town


September 5, 2012
Windhoek, Namibia
When you were a kid, did you ever look at a map of the world and notice that South America and Africa seem to fit together like two giant jigsaw pieces?
Geologists tell us that this was actually the case… and there are a lot of oil companies betting on the validity of this idea through their investments in Namibia’s nascent oil sector.
The conjecture holds that, if the continents were once part of the same landmass, then the geology of southwest Africa should be similar to the geology of coastal Brazil. And since Brazilian waters are so oil rich, the Namibian coast might be too.
That’s the hope. It was true in Angola, just to the north of Namibia. After a long and bloody civil war, Angola today is a booming, top oil producing nation.
A few of the major oil companies are here in Namibia hedging that this country may be the next big thing. Besides, given how many despots and dictators they usually deal with, Namibia is a veritable paradise for Big Oil.
Initial estimates ballpark the oil reserves off the Namibian coast in the neighborhood of 11 billion barrels. If true, this would put Namibia in the same category as its neighbor Angola– a major producer. But they have to find it first.
While Angola is already producing, oil exploration in Namibia only began in earnest recently. They’ve drilled barely a dozen wells in an area that’s roughly the size of Spain… so there’s quite a bit more exploring to do.
(By way of comparison, over 10,000 wells have been drilled in West Africa…)
Forthcoming results are soon due out from the Kabeljou exploration well; if they hit something, it’s going to be a game changer. If not, they’ll keep drilling.
This Kabeljou well is a joint project owned by BP, Petrobras, and Chariot Oil & Gas. Chariot (LON: CHAR) is one of the smaller players in Namibia, and unlike the big guys which are diversified all over the world, Chariot has an extensive portfolio of almost exclusively Namibian assets.
Its stock price just got hammered yesterday on rumors that Kabeljou is another dry hole. Now, I have not completed my own analysis (I haven’t bought the stock), this is NOT intended to be an investment recommendation. But if you’re a seasoned resource investor, it may be worth a quick look.
After yesterday’s hit, Chariot’s market cap is around $300 million. They have $175 million in the bank with no debt… and whether or not Kabeljou turns out to be a dry hole, Chariot still has a lot more area to cover within its portfolio.
If you’re not an avid investor in volatile resource companies (I’m not either), the potential business and financing opportunities on the ground if/when they do discover the big find are going to be really interesting. This is what I’m really looking into here.
Angola is a great example of what happens when the oil boom comes to town. Any international-quality service business (hotels, restaurants, catering, conference centers, office supply, security, delivery, etc.) tends to do very well. So does real estate, particularly when operated as a high quality rental service.
All of these potential business and investment opportunities put Namibia squarely on the radar; I’m watching it closely, and we can discuss it more as things progress. Depending on how the Kabeljou works out, we could find out very soon.

หรือสนใจตาม ลิ้งค์ข้างล่างนี้ครับผม
http://www.businessinsider.com/this-cou ... oon-2012-9

[sorageol46]

Geoscience Australia has released a report on the latest available Australian gas resource figures. The Australian Gas Resource Assessment 2012 report, prepared in conjunction with the Bureau of Resources and Energy Economics, documents the growth of gas resources and infrastructure developments which underpin the increasing role for gas in the Australian and global energy mix.

Can download from this link
http://www.ga.gov.au/image_cache/GA20708.pdf

[sorageol46]

พลังงานในโลกอนาคต ปี 2050 สารคดี โดย Shell

http://geothai.net/gneiss/?p=1918

พอกดเข้าไปตามลิงค์ เลื่อนลงมาด้านล่างจะมีคลิปสารคดีตัวเต็มอยู่นะครับ