Optimism Emerges as the Key Theme from CWC's World Shale Oil & Gas Summit last week in Houston

Top Quote International experts in the shale oil and gas industry gathered in Houston last week at the 4th annual World Shale Oil & Gas Summit and Exhibition. End Quote
  • (1888PressRelease) November 20, 2013 - International experts in the shale oil and gas industry gathered in Houston last week at the 4th annual World Shale Oil & Gas Summit and Exhibition, co-hosted by CWC and the American Gas Association and co-sponsored by the International Gas Union.

    The opening keynotes by Edward Morse of Citi Research and Davis Thames of Cheniere Energy set the scene for the three days, with Morse predicting that booming U.S. oil production could continue, even if the price of crude drops by half because oil companies can produce more for less.

    Continuing discussions on emerging shale regions, a member of the PEMEX board asserted that the company needs international investment to develop its own vast natural gas resources rather than importing the fuel; followed by key sessions on infrastructure development and on gas monetization strategies with speakers from BP, Wärtsilä and CPS Energy.

    On the second day of the Summit, session three saw environmentalists and industry players agreeing that a sound foundation of development focused on protecting water and air is crucial if the discussion on shale extraction is ever going to reach the "rational middle". Andrew Place, interim executive director of the Center for Sustainable Shale Development, highlighted that they have developed standards for measuring adherence to best environmental practices, and recommend third-party audits of compliance. Place, described some of the standards: Zero discharge of wastewater to surface or ground, double-lined impoundment for liquids used or generated on site, baseline groundwater monitoring, independent lab analysis, and lined well pads so spills don't contaminate water.

    On the well-attended Asia Pacific focus day, a representative from the Ministry of Land & Resources commented "China's shale sector is 'open to the market' following a change to the country's guidelines on developing unconventional resources".

    With the recent announcement that China's National Energy Administration has completed the first draft of the new regulation to allow more companies to participate in the unconventional exploration, Mr Peng Qiming, the director-general of the Ministry's department of geological exploration, said he is "optimistic" that China can reach their ambitious shale-gas production goals by 2015.

    In addition to the discussions that took place, on November 5th, the World Shale Oil & Gas Awards were presented at the Gala Dinner held at the Hilton Americas. The International Pioneer Award went to Chevron; the Technological Innovator Award went to Halliburton and the Community Engagement Award went to Consol Energy.

    For more information about the World Shale Summit and Exhibition 2014, please visit www.world-shale.com.

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