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Wednesday, February 10, 2016
Release
World Energy Council to launch Shale Gas Report at the Africa Gas Forum next week
8th February 2016
In 2016, the role of natural gas in the global energy mix appears uncertain. The so called “Golden Age of Gas” is no longer in sight. Economic, geopolitical, and policy constraints have slowed demand growth in Asia and led to a decline in demand in Europe. On the other hand, suppliers in Australia, the Middle East, Africa, and North America who bet on old forecasts for Asian demand growth are bringing plenty of new supplies to the market.
Africa’s oil and gas potential is expected to grow significantly over the next two decades. Africa is endowed with natural resources that are changing the global energy landscape with six of the top 10 global discoveries in the oil and gas sector in 2013 being made in Africa. However, Africa’s gas prospects have to viewed in the context of global gas markets.
The World Energy Council Shale Gas Report, entitled “World Energy Resources – Unconventional gas, a global phenomenon” will be launched by the Secretary General of the World Energy Council, Christoph Frei, during Africa Energy Indaba’s Africa Gas Forum on Monday 15th February. The report explores how the onset of unconventional gas supplies, led by the US Shale Revolution, contributed to the structural shifts currently underway in global natural gas markets. The following important questions will be considered: “In a context of low prices and new impetus for decarbonisation created by the outcome of the 21st Conference of the Parties, what role will unconventional gas play in the global future energy mix towards a sustainable energy future and where should South African natural gas position itself?”
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