Asia
Asia is following Europe’s model with regard to shale gas production in a bid to put an end to its imports. China sits atop 1,275 tcf (36 tcm) of shale gas, becoming the world’s largest holder of shale gas. India and Pakistan hold 63 tcf (2 tcm) and 51 tcf (1.5 tcm) of shale gas, respectively.
China’s shale gas is 12 times higher than its conventional gas. Therefore, should China manage to develop a plan for shale gas production, it would supply its domestic needs in the long-term and become another US. China’s shale gas deposits are 48% higher than that of the US’s.
North America
The US, Canada and Mexico hold a total of 1,931 tcf (54 tcm) of shale gas. That makes North America the richest region in the world in terms of shale gas reserves. The ratio of shale to natural gas reserves in North America is 5.6. That along with necessary technology and capital makes North America the largest producer of natural gas in the world.
Africa
Among African nations, South Africa awaits a promising future thanks to its 485 tcf (13.5 tcm) of shale reserves. Meantime, South Africa is a hub of the gas-to-liquid (GTL) industry. South Africa is expected to master technology for shale gas production by 2040. After that, it would become a major exporter of natural gas and GTL-based petroleum products and play a major role in global energy markets.
South America
South America is home to about 1,225 tcf (35 tcm) of shale gas. In this region, Argentina holds 774 tcf (22 tcm) and Brazil holds 226 tcf (6.5 tcm) of shale gas. The important point is the existence of 1,225 tcf of shale gas compared with 239.2 tcf (7 tcm) of natural gas.
Iran
No detailed study has so far been conducted on shale gas reserves in Iran. In 2011, the Exploration Directorate of National Iranian Oil Company made preliminary arrangements for shale gas recovery in the sedimentary areas of Zagros, Kopeh Dagh and central Iran.
The Research Institute of Petroleum Industry (RIPI) has said studies were to be carried out in collaboration with the Exploration Directorate of NIOC in the Lorestan province.
Experts believe that shale gas development would bring about a major change in the oil and gas sector, unseen in the world in the recent decades. Countries like the US that depend on energy imports are trying to benefit from shale gas in order to end their imports. Some countries like China were once major energy importers, but they now own huge gas reserves.
That is expected to leave important impacts on the world energy economy. Gas prices have already declined, while Russia and Qatar are not as powerful as they were in the global gas market.
Technological complications, higher production costs compared with conventional gas and some concerns about the environmental consequences of shale gas in some countries constitute the major obstacles to shale gas development.