Natural gas reserves
In discussing natural gas reserves, it will be necessary to understand what natural gas is, how it is obtained, and how it is stored. When wondering what natural gas reserves are, they are defined as odorless, colorless, shapeless gases which is highly combustible. Due to this combustibility, it requires special handling, and is normally stored above ground, unlike gasoline or oil, which are stored in underground location.
Natural gas reserves are a combination of hydrocarbon gases, but formed primarily out of methane, with levels of propane, ethane, pentane and butane mixtures included in the product. Natural gas reserves are also a major player in the world's supply of energy and are readily used for heating homes and other building such as churches, school of higher learning, and businesses across the country. In the usage of energy, natural gas ranks number three after petroleum and coal.
Natural gas reserves are often spoken in terms of resources and reserves. Untapped deposits of gas lying underground are referred to as gas resources. Natural gas reserves are estimated quantities of gas deposits which are analyzed through engineering and geological data and estimated by scientists at current prices, which are recoverable in the future.
Natural gas reserves are formed when high volumes of methane are trapped underground in places where the required geological conditions occur. As of January 2005, the global estimated statistics of natural gas reserves stood at 6,040 trillion cubic feet.
Globally, only a few countries possess reserves of natural gas. Eastern Europe, the former Soviet Union and the Middle East combine to form three quarters of the world's natural gas reserves, while Iran, Qatar and Russia make up for approximately 58%. Natural gas reserves are also found in many areas of the United States. Natural gas reserves are normally found in concentrated areas throughout the Gulf of Mexico, as well as in the states of Louisiana, Oklahoma, New Mexico, Wyoming, Alaska, Kansas and Texas. Natural gas reserves are continuously being explored and extracted by major oil companies in the Gulf of Mexico.
All natural gas reserves, which could be economically recovered at any of these concentrated areas, have shown a major marked increase over the last decade. Natural gas reserves that could be economically produced utilizing modern technology are known as proved reserves. Proved reserves do not include quantities of natural gas temporarily stored underground. Apart from proved natural gas reserves, large volumes of natural gas exist as recoverable resources awaiting discovery.
The level of gas well drilling is closely connected to the level of proved natural gas reserves. Due to the rapid decline in output levels from new gas wells, continuous drilling of new gas wells is required in order to maintain the level of production capacity and proved natural gas reserves. The ratio between proved natural gas reserves to current levels of production is around 60 to 70 years. This means that the remaining reserves would last on the assumption that current levels of natural gas reserves production are maintained.
Natural gas reserves are a combination of hydrocarbon gases, but formed primarily out of methane, with levels of propane, ethane, pentane and butane mixtures included in the product. Natural gas reserves are also a major player in the world's supply of energy and are readily used for heating homes and other building such as churches, school of higher learning, and businesses across the country. In the usage of energy, natural gas ranks number three after petroleum and coal.
Natural gas reserves are often spoken in terms of resources and reserves. Untapped deposits of gas lying underground are referred to as gas resources. Natural gas reserves are estimated quantities of gas deposits which are analyzed through engineering and geological data and estimated by scientists at current prices, which are recoverable in the future.
Natural gas reserves are formed when high volumes of methane are trapped underground in places where the required geological conditions occur. As of January 2005, the global estimated statistics of natural gas reserves stood at 6,040 trillion cubic feet.
Globally, only a few countries possess reserves of natural gas. Eastern Europe, the former Soviet Union and the Middle East combine to form three quarters of the world's natural gas reserves, while Iran, Qatar and Russia make up for approximately 58%. Natural gas reserves are also found in many areas of the United States. Natural gas reserves are normally found in concentrated areas throughout the Gulf of Mexico, as well as in the states of Louisiana, Oklahoma, New Mexico, Wyoming, Alaska, Kansas and Texas. Natural gas reserves are continuously being explored and extracted by major oil companies in the Gulf of Mexico.
All natural gas reserves, which could be economically recovered at any of these concentrated areas, have shown a major marked increase over the last decade. Natural gas reserves that could be economically produced utilizing modern technology are known as proved reserves. Proved reserves do not include quantities of natural gas temporarily stored underground. Apart from proved natural gas reserves, large volumes of natural gas exist as recoverable resources awaiting discovery.
The level of gas well drilling is closely connected to the level of proved natural gas reserves. Due to the rapid decline in output levels from new gas wells, continuous drilling of new gas wells is required in order to maintain the level of production capacity and proved natural gas reserves. The ratio between proved natural gas reserves to current levels of production is around 60 to 70 years. This means that the remaining reserves would last on the assumption that current levels of natural gas reserves production are maintained.
