The United States has enough natural gas potential to feed an 85 percent jump in demand for the fossil fuel over the next 25 years, Anadarko Vice President Clay Bretches told OTC attendees Wednesday.
By converting coal power plants to cleaner natural gas, increasing use of natural gas as a transportation fuel and allowing more exports, the United States can realize an 85 percent increase in demand for the fuel and relieve the glut that has crushed its domestic price, Bretches said.
Presenting a National Petroleum Council report on developing North American energy, Bretches noted that the United States is now the world’s largest producer of natural gas, surpassing Russia. When combined with Canada, the countries supply 25 percent of the world’s natural gas.
However, most of that gas is produced on land, from shale formations in Texas, Pennsylvania and elsewhere. But that hasn’t kept it from creating some buzz at the Offshore Technology Conference.
According to a poll by technical advisory firm GL Noble Denton on Day 1 of the conference, more than half of attendees believe that natural gas will become the United States’ primary energy source by 2030. Just 44 percent of the poll respondents believed that oil would remain dominant.
The United States isn’t the only country where industry is seeing energy consumers switch from crude to natural gas.
“Most countries have,” said Pekka Paasivaara, an executive board member for GL Group. “Gas as an energy supply for power is substituting for coal and nuclear worldwide.”