US Potential Gas Committee says resources of the LNG exporting nation have risen to record 3,863 Tcf

Thursday, 21 October 2021
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The US Potential Gas Committee (PGC) has released its two-yearly report showing that the LNG exporting nation has record natural gas resources in the prime basins in terms of recoverable gas and reserves.

The Atlantic Area has the largest reserves following by the Mid-Continent, the Rocky Mountains and the Gulf Coast, where most liquefaction and export plants are located, including the offshore Gulf of Mexico.

“Technically recoverable resources, those in the ground but not yet recovered, total 3,368 trillion cubic feet, “ said the PCC report.

“When you add in the recovered gas, the total gas (resources plus reserves) rises to a record 3,863 Tcf, up slightly from the comparable year-end 2018 assessment,” it stated.

The PCC year-end assessment of the nation’s estimated natural gas resource base was released at a virtual event hosted by the American Gas Association.

“This report affirms that Americans will have the clean natural gas that they need now and well into the future,” said Richard Meyer, Vice President, Energy Markets, Analysis and Standards for the AGA.

“The Covid-19 pandemic has temporarily slowed drilling activity, but the US continues robust natural gas production relative to history,” explained Meyer.

“Our total gas account as a measure of future supplies is as high as ever and, with supportive policies in place to ensure reliable supply, this vast energy resource is available to meet our energy needs and to support US and global commitments to lowering emissions,” he added.

The PGC’s year-end 2020 resource-specific assessment of 3,368 Tcf includes 3,212 Tcf of gas potentially recoverable from “traditional” reservoirs (conventional, tight sands, carbonates, and shales) and 157 Tcf in coalbed gas reservoirs.

The PGC consists of approximately 80 knowledgeable and highly experienced volunteer members who work in the natural gas exploration, production, transportation, and distribution industries and the technical services and consulting sectors.

The PGC biennial assessment is regarded as the most comprehensive report of the potential for future natural gas supplies in the US.

Since its founding in the early 1960s, the sole purpose of the PGC has been to organize and train geoscientists, engineers and others for the timely preparation and dissemination of the two-yearly assessments of the natural gas resource base.

According to the report, the Atlantic Area contains 39 percent of total US gas resources, followed by the Mid-Continent with 18 percent.

The Rocky Mountains has 17 percent of the potential future supply, while the Gulf Coast (including the Gulf of Mexico) contains 16 percent.

“Changes in the total assessment from year-end 2018 to year-end 2020 arose primarily from the evaluation of recent drilling, well tests, and subsequent production data from these four areas.” said the report.

The PGC pointed out that it also benefits from the input of respected technical advisors (most of whom are former active members), together with representatives of the gas pipeline and gas distribution industries and a professionally diverse group of observers representing federal and state government agencies, academia, industry and research organizations, and commercial firms in both the US and Canada.

In 1984 the PGC was incorporated as a non-profit, tax-exempt entity in the State of Colorado.

The PGC reports its assessments of potential resources in three categories of decreasing geological certainty:

1)Probable resources (discovered but unconfirmed resources associated with known fields and field extensions; also undiscovered resources in new pools in both productive and non-productive areas of known fields);

2) Possible resources (undiscovered resources associated with new field/pool discoveries in known productive formations in known productive areas); and

3) Speculative resources (undiscovered resources associated with new field/pool discoveries in as-yet non-productive areas). 

 

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