Natural gas production is becoming an important component to the world’s energy future. In fact, it’s believed that gas production will have increased http://thespyexpert.com/ by five times by 2020. Natural gas is an attractive alternative to many other fuel sources and has become plentiful through the use of hydraulic fracturing.
Electricity Generation Going Up
Natural gas is presently being used to replace coal in many power plants. As electricity needs have gone up, the demand for natural gas has also increased. Natural gas is one of the most affordable methods of electricity generation. The more affordable electricity is, the better the economy can perform.
In the past, natural gas was usually used primarily through the winter. Natural gas has been used in homes for heat generation: stoves, water heaters, and furnaces. But now, natural gas is used to create electricity itself. This has created an increased need for natural gas during the hot summer months, in order to fuel air conditioners.
Natural Gas Exports Growing
The United States is currently producing enough natural gas that is slated to become a net natural gas exporter in late 2017. This will position the United States even more strongly throughout the global energy market. In addition to natural gas need, natural gas prices are also rising. This could position natural gas companies within the United States very well.
The need for natural gas throughout the world is growing as new applications for natural gas are rising. Because the United States is able to take advantage of its plentiful shale reserves, it has an advantage within this growing and global market.
Better Production through Hydraulic Fracturing
Fracking is largely responsible for the growth of the energy industry, both in terms of natural gas and crude oil. Before fracking, North America was unable to reliably recover fuels from its extensive shale reserves. This made North America reliant upon other countries for its natural gas and oil.
Hydraulic fracturing has not only made the production of natural gas more affordable, but it also continues to be improved upon. The low per barrel crude oil prices have driven energy companies to improve upon the efficiency of their operations, which is in turn making it easier for companies to recover natural gas at a more significant profit margin.
Not Without Growing Pains
Though the natural gas industry is currently strong and healthy, there are some issues that need to be addressed. An infrastructure of pipelines will be necessary to transport natural gas to those who need to use it. This is especially true as power plants shift over from other fuel sources, such as coal. Pipelines are by far the fastest, most efficient, and safest method for natural gas transportation. Public and government support will be needed for further pipeline developments.
As natural gas companies continue to scale up, safety procedures, equipment, and protocols become even more critical. Natural gas companies that are interested in building their operations are going to have to invest more in their safety systems. Keystone Containment offers complete turn-key safety solutions, designed to better protect both employees and the environment.