The United States holds the top spot with the largest remaining conventional and unconventional gas reserve, with 748,307 billion cubic feet expected to be economically recovered in the country. Russia, Iran, and Qatar follow with 562,745 billion cubic feet, 292,745 billion cubic feet, and 192,631 billion cubic feet respectively. GlobalData estimates that the top ten countries hold 2,548,064 billion cubic feet of economically recoverable gas reserves.
GlobalData reports that over 66.4% of remaining reserves held by the top ten countries are represented by conventional gas at 1,692,737 billion cubic feet. Unconventional gas reserves across the ten countries stand at 20.5% (521,094 billion cubic feet), associated gas from conventional oil fields represents 8.2% (207,843 billion cubic feet) and from unconventional oil fields – 3.8% (98,055 billion cubic feet). Gas reserves associated with oil sands, heavy oil, and coal bed methane developments stand together at 1.1% (28,344 billion cubic feet) of reserves of the top ten countries.
Over 66.4% of remaining reserves by the top ten countries, or 1,693,050 billion cubic feet, will be produced from onshore fields. Russia and Turkmenistan have the lowest break-even gas price at $1 per thousand cubic feet each, while Saudi Arabia has the highest remaining break-even gas price at $8 per thousand cubic feet for onshore developments.
GlobalData estimates that shallow water developments will account for 26% or 661,822 billion cubic feet of remaining reserves. United Arab Emirates has the lowest remaining break-even gas price at US$1 per thousand cubic feet for shallow water developments, while Canada has the highest break-even gas price at US$19 per thousand cubic feet.
Four of the top ten countries are expected to recover reserves from deepwater and ultra-deepwater developments, representing 7.6% or 193,190 billion cubic feet of remaining reserves. United States has the lowest remaining break-even gas price at $1 per thousand cubic for deepwater projects and Saudi Arabia has the highest breakeven at $21 per thousand cubic feet.
Source: Upstream Analytics © GlobalData