article thumbnail

New EIA report boosts estimates of global recoverable shale oil resources 10-fold to 345 billion barrels

Green Car Congress

The US Energy Information Administration (EIA) has released a new report that estimates that shale oil and shale gas resources in the United States and in 137 shale formations in 41 other countries represent 10% of the world’s crude oil and 32% of the world’s natural gas technically recoverable resources—i.e., Report terminology.

Oil 281
article thumbnail

GECF: more than a quarter of 2050 natural gas supply untapped

Green Car Congress

Yet-to-find (YTF) resources will contribute to around 30% of the total production of natural gas worldwide by 2050, according to Yury Sentyurin, the Secretary General of the Gas Exporting Countries Forum (GECF).

article thumbnail

BNEF, Snam, IGU report finds global gas industry set to resume growth post-pandemic; low-carbon technologies for long-term growth

Green Car Congress

Ample natural gas resources exist to support demand growth, but greater gas infrastructure development is needed to support growth in the medium term. While matching supply and demand in the most efficient way, the infrastructure is expected to play a central role in supporting the penetration of hydrogen in the energy mix.

Gas 243
article thumbnail

Opinion: Is Russia Plotting To Bring Down OPEC?

Green Car Congress

Russia supplied about 30 percent (146.6 The decision also has impacted natural gas export prices negatively, since, for Russia's long-term supply agreements, they wholly or partially are indexed to oil prices. They include bans on financing for and the supply of critical equipment and technology to important Russian energy projects.

Russia 150
article thumbnail

Opinion: Saudis Could Face An Open Revolt At Next OPEC Meeting

Green Car Congress

Of the non-Saudi, non-Gulf Arab ally OPEC members, only Libyan per capita resources exceed the average. As we have pointed out, RBC Capital’s fragile five , Algeria, Libya, Nigeria, Iraq and Venezuela, the pain is intense. trillion of $3.05 As the following table shows, their advantage is particularly large on a per capita basis.

article thumbnail

Europe moves forward on the Energy Union; transport key element

Green Car Congress

Six Member States depend on a single supplier for their entire gas imports and therefore remain too vulnerable to supply shocks. The Energy Union is based on the three long-established objectives of EU energy policy: security of supply; sustainability; and. 75% of EU housing stock is energy inefficient. competitiveness.