Seeds from the North American shale gas revolution have been carried around the globe and planted, and it's only a matter of time before many countries have their own where natural gas is concerned, longtime energy industry executive Chuck Watson told a Houston audience Thursday.
He predicted "discoveries all over the globe" during the next five years.
"There has been an enormous technological change that has swept our industry, and it has been absolutely a game-changer," Watson, chairman of Twin Eagle Resource Management, said at Bentek Energy LLC's Benposium. "I believe this technology is going to permeate the rest of the globe, and it's going to have a dramatic impact on global trade, global gas, global energy..."
Citing data from Goldman Sachs, Watson, one of the founding fathers of the natural gas market, said there are 330 known exploration and production "investable" projects around the world, but only 74 of them are in North America. "We don't have a lock on new drilling and new opportunities. I see this as very much a global expansion, and I think it's going to have dramatic impacts around the globe." Watson led the original Natural Gas Clearinghouse that started up in the mid 1980s to handle trades in the newly deregulated gas market.
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