AGA report sees record amount of domestic natural gas potential

The American Gas Association (AGA) and the Potential Gas Committee (PGC) together have released the PGC’s 2014 biennial report “Potential Supply of Natural Gas in the United States.”

The assessment says the United States has a technically recoverable natural gas resource potential of 2,515 trillion cubic feet (Tcf). This is the highest resource evaluation in the PGC’s 50 year history— a 5.5% increase of 131 Tcf from the previous record-high assessment from year-end 2012.

When the PGC’s results are combined with the Department of Energy’s (DOE) latest available determination of proved dry-gas reserves — 338 Tcf as of year-end 2013 — the United States has a total available future supply that now exceeds 2,850 Tcf, an increase of 161 Tcf over the previous evaluation.

The year-end 2014 shale gas assessment, 1,252,925 Bcf (“most likely” value), represents a 179,955-Bcf (16.8%) increase over that for year-end 2012. The resource assessment for coalbed gas declined slightly, according to the report’s executive summary.

The nation’s abundance of natural gas supports affordable prices for customers, bolsters U.S. energy security and provides efficiency and environmental solutions.

“These numbers underscore the fact that our nation can rely on domestic natural gas for our energy needs for years to come,” said Dave McCurdy, president and CEO of AGA. “This is great news for natural gas customers, who currently enjoy average savings of $693 per year per household.

The AGA represents more than 200 local energy companies that deliver clean natural gas throughout the United States.

The Potential Gas Committee, an incorporated, nonprofit organization, consists of experienced volunteer members who work in the natural gas exploration, production and transportation industries and in the field and technical services and consulting sectors. The committee also gets the input of technical advisors and various observers from federal and state government agencies, academia, and industry and research organizations in both the United States and Canada.

The Potential Gas Agency at the Colorado School of Mines provides the Committee with guidance, technical assistance, training and administrative support, and assists in member recruitment and outreach.

About Wayne Barber 4201 Articles
Wayne Barber, Chief Analyst for the GenerationHub, has been covering power generation, energy and natural resources issues at national publications for more than 20 years. Prior to joining PennWell he was editor of Generation Markets Week at SNL Financial for nine years. He has also worked as a business journalist at both McGraw-Hill and Financial Times Energy. Wayne also worked as a newspaper reporter for several years. During his career has visited nuclear reactors and coal mines as well as coal and natural gas power plants. Wayne can be reached at wayneb@pennwell.com.