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Strategic View of the North American Conventional vs. Unconventional Oil and Gas Market

  • September 2014
  • 52 pages
  • Frost & Sullivan
Report ID: 2361186

Summary

Table of Contents

The Need for Cost-effective Solutions Creates Opportunities for a Competitive Business Model

North America is a large consumer of oil and gas. Historically, the United States heavily depended on foreign oil. The landscape is gradually changing, however, providing the United States more self-sufficiency via its vast available resources in coal-bed methane and shale gas formations. This market insight covers the current state and potential of the conventional and unconventional oil and gas resources in the region. It presents the trends governing the industry and their impact on the forecast period. The base year is 2013, and the forecast period is from 2014 to 2018.

Key Findings
-The North American oil and gas market is being shaped by new legislation, recent shale discoveries, and advances in exploration and production (E&P) technologies.
-A growing gross domestic product (GDP) and improved economic conditions in the United States will raise energy consumption during the next years.
-The U.S. goal of energy independence and the concern for unmet energy demand are the leading drivers behind strengthening interests in unconventional resources, including tight gas, shale gas, and coal-bed methane production.
-A possible trend is the future retirement of existing coal and nuclear plants. This is likely to foster growth for both natural gas and renewables in the fuel mix for domestic consumption.
-The industrial sector is expected to be the main energy consumer, accounting for almost % of the growth projected to 2018.
-Residential and commercial sectors, in contrast, are expected to show the weakest growth, which is heavily weighted to electricity.
-Gas accounts for most of the non-electricity energy usage.
-Transportation accounts for % of the projected growth to 2018.
-The only way to offset high fuel prices in the transportation sector is through increased efficiency.
-Crude oil spot prices are expected to increase by almost % in the next years, compared with a % growth of the Henry Hub Natural Gas Spot Price in the same period.
-Outside the transportation sector, high relative prices of oil have led to increased substitution with cheaper alternatives.
-Oil demand in the residential and commercial sectors has also declined substantially.
-The decline in oil demand is expected to be gradual as there are limits to substitution in petrochemicals and non-energy-related uses.

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