Natural Gas News – February 18, 2019
Shale Gas Market is Forecast to Cross 8,000 Billion Cubic Feet in 2024
Market Watch reported: Shale gas is a type of natural gas explored from shale rocks or deposits underneath earth through various techniques. Globally, it has become an increasingly important source of natural gas. The global shale gas market production is expected to grow from 5,563 billion cubic feet in 2016 to 8,000 billion cubic feet in 2024 at CAGR of 4.7% for the same period. Market Research Engine is involved in providing research reports and company profiles in the global shale gas market in terms of revenue and output/volume. Market drivers, opportunities and restraints are thoroughly studied which influences the market. This study is further utilized for the overall analysis of the market.
Egypt Is Shaping Up To Become A Real Energy Hub
Oil Price reported: Egypt’s oil and gas future looks very bright. The large scale concessions awarded during the EGYPS2019 conference in Cairo, 11-13 February, shows the appetite of IOCs, such as Shell, BP and ENI in this emerging energy hotspot. After years of a major slump, partly due to continuing payment and security issues, the Pharaohs are again back in the top league. Continuing concerns about security in Egypt’s Western Desert or the Sinai no longer seem to be a breaking point for investors. At the second day of EGYPS2019 the announcement of five onshore and offshore licenses by EGPC, as presented by Egypt’s minister of energy Tarek El Molla, has created a very bright future for the North African oil and gas producer. The success story of the offshore deepwater gas field Zohr, operated by Italian oil major ENI, could be supported further by positive results from current exploration efforts in the offshore Noor field. If expectations are met, a new gas hub could be in the making, combining Cypriot and Israeli production with Egypt’s existing LNG infrastructure.