U.S. Domestic Natural Gas Resources at Record Levels
Potential Gas Committee Members Unveil Increase in Natural Gas Resource Assessment since Year-end 2010 Report
Washington, D.C. – The American Gas Association (AGA), in coordination with the Potential Gas Committee (PGC), today released the PGC’s year-end 2012 biennial report: Potential Supply of Natural Gas in the United States. The new assessment finds that the United States possesses a technically recoverable natural gas resource potential of 2,384 trillion cubic feet (Tcf). This is the highest resource evaluation in the PGC’s 48 year history—exceeding by 486 Tcf the previous record-high assessment from year-end 2010.
“This ground up, science-based assessment emphasizes our nation’s robust supply of natural gas, and confirms that we can continue to rely on abundant, clean natural gas for our future energy needs,” said Dave McCurdy, president and CEO of AGA. “By investing in our energy future and harnessing the promises of this resource, we can look forward to decades of market stability – and that’s great news for our customers.”
The future supply of domestic natural gas continues to grow due to the emergence and advancement of key technologies that are able to unlock gas production from reservoirs such as shale formations. For the next decade and beyond, domestic natural gas supplies are expected to be high enough to support an increase in demand across all sectors – unlocking the door for expansion in residential, business, transportation and commercial and industrial applications.
When the PGC’s results are combined with the U.S. Department of Energy’s latest available determination of proved dry-gas reserves — 304.6 Tcf as of year-end 2010 — the United States has a total available future supply of 2,688.5 Tcf, an increase of 486.1 Tcf over the previous evaluation.
The PGC’s year-end 2012 assessment of 2,384 Tcf includes 2,226 Tcf of gas attributable to “traditional” reservoirs (conventional, tight sands and carbonates, and shales) and 158 Tcf in coalbed reservoirs.
“The PGC’s year-end 2012 assessment reaffirms the committee’s conviction that abundant, recoverable natural gas resources exist within our borders, both onshore and offshore, and in all types of reservoirs—from conventional, ‘tight’ and shales, to coals,” said Dr. John B. Curtis, professor of Geology and Geological Engineering at the Colorado School of Mines and Director of its Potential Gas Agency, which provides guidance and technical assistance to the Potential Gas Committee.
“Every day, America’s natural gas utilities deliver clean, domestic natural gas to more than 65 million residential, commercial and industrial natural gas customers,” said McCurdy. “Natural gas can help improve our economy, national security and the environment – and this assessment shows we have the necessary resource abundance to help make those goals a reality for our nation. We appreciate and welcome the fact-based, time-tested objective work that the PGC and its members have put into developing this valuable report.”