Shale gas has changed the global pattern of the materials for the petrochemical industry
From the point of energy supply and cost, the north American shale gas and shale oil development has made the world economy a huge benefits, IHS group vice chairman Daniel & middot;
The gold in Berlin on October 5 at the European petrochemical association (
Theme speech 49th annual meeting, said although shale gas because of its production mode and controversial, but in terms of their influence may be in the past 20 years the most important innovation in energy supply.
The proportion of shale gas, natural gas production in the United States has risen from 2% growth in the early 21st century to now more than 40%, also is expected to continue to grow.
Nowadays many countries in the world are actively develop shale resources, in fact energy has entered the era of shale.
Daniel & middot;
The gold that is fuelling, shale oil and gas development since mid - 2014 of the world's oil prices fell sharply, thus has also changed the global pattern of the materials for the petrochemical industry.
Daniel & middot;
Gold points out that the world has entered a new era of energy, the global energy supply growth is more than demand growth, emerging economies have become the main influencing factors of the market.
'Gold analysis, points out that there are three factors to promote international oil prices fell to the people of the unforeseen levels, namely growing shale energy supplies, the main emerging economies,
Especially in China)
Economic growth is slowing, and Opec decided not to cut production support oil prices but to seize the market share.
Shale oil and gas are from a limited supply and demand to ample supply and demand is weak, part of the reason is a subversive of shale oil and gas fracturing technology breakthrough, resulting in a historic shift.
Hydraulic fracturing technology, originally used to develop shale gas, and then applied to the development of shale oil, since 2008, oil production has almost doubled in the United States, since 2007, the us natural gas production increased by 50%.
Jin said that historically geopolitical huge influence on oil prices.
In the world today are facing huge geopolitical risks, such as the Middle East, such as Iran, Iraq, Syria and yemen several hot issues, the refugee crisis in Europe, and western tensions with Russia, can affect future world energy supply.
But as a result of the oil supply is enough, these risk factors affect the price of oil, lead to international oil prices fell on to the current low levels.
However, an unexpected events are likely to change the present this kind of pattern, of geopolitical may at any time.
IHS still predict 2015 average price of brent crude to $53 a barrel, is 55 ~ 2016 $56 a barrel, is 60 ~ 65 dollars a barrel in 2017.
Low oil prices has led to the oil industry to slash investment companies investment budget cuts of 10% ~ 15% on average.
Gold points out that because of lower oil prices, many projects will be put off or review, shelving, and cancel.
He is expected to 2019, the world oil industry used in prospecting, mining and other projects of investment will reduce the $600 billion than previously expected.
But cheap and abundant oil and shale gas have benefit petrochemical industry giant in the world scope, and also have a significant impact on the petrochemical industry.
Jin said that in the United States is in the first wave of natural gas as raw material with lower cost of petrochemical projects of investment more than 100 billion dollars, the project will be financed from 2017 to 2020.
For a long period of time, the American petrochemical industry will remain very competitive position.
The European petrochemical industry is still in naphtha as the main raw material, as oil prices fell, the overall competitiveness of petrochemical industry in Europe also increased, but the resulting profitability of ascension is only temporary.
And the king said, over time, the United States a lot with natural gas as raw material of petrochemical production, after the production of European competitiveness of petrochemical assets will weaken again.
IHS chemical predicts that in the next 10 years the global petrochemical industry scale will be expanded by 40%, than it is now part of the reason is the shale gas lift.