September 29, 2021 07:57 ET | Source: ReportLinker ReportLinker

New York, September 29, 2021 (GLOBE NEWSWIRE) - Reportlinker.com announced the release of the report "Shale Gas Global Market Report 2020-30: COVID-19 Growth and Changes"-https://www.reportlinker.com/ p06151704/?utm_source=GNW The global shale gas market is expected to grow from USD 55.58 billion in 2020 to USD 61.51 billion in 2021, with a compound annual growth rate (CAGR) of 10.67%. The growth was mainly due to the company rescheduling its operations and recovering from the effects of COVID-19, which earlier led to restrictive containment measures, including social distancing, remote work, and the closure of business activities, which brought to operations Challenge. It is estimated that the market size will reach 999.9 billion US dollars in 2025, with a compound annual growth rate of 12.92%. The shale gas market includes the sale of shale gas by entities (organizations, self-employers, and partnerships) that use pumping technologies and systems for shale gas exploration, development, and production. Shale gas is trapped in shale formations. The main types of technologies used to extract shale gas are exploration drilling and fracturing fluids. Shale gas has applications in power generation, industry, residential, commercial, and transportation. The regions covered by the shale gas market report include Asia Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa. Modular production systems in the natural gas industry are becoming more and more popular because they are cost-effective, can extract natural gas in a short time and are more profitable than traditional methods. The modular system is an integrated field facility with prefabricated equipment, pipes, gauges, etc. installed between wells, as well as pipes for gas processing applications. The system helps to shorten project time, provide cost-effective manufacturing, better quality and higher safety. For example, PROPAK is a company headquartered in Canada that specializes in natural gas production packages using modular processing plants. SIIRTEC NIGI is an engineering and contracting company headquartered in Italy, using skid-mounted and modular packaging design and supply for gas treatment, sulfur recovery, etc. Honeywell UOP is a company that creates a modular system for shale gas recovery. The company stated that the modular system can be ready to start in about 10 months, while traditional rod-shaped permanent wells require 21 months to start. In October 2020, Noble Energy, Inc., an oil and gas exploration and production company, was acquired by Chevron for a disclosed amount. The acquisition of Noble Energy, Inc. will provide Chevron with low-cost, proven reserves and ideal undeveloped oil and natural gas resources. In addition, it will enhance Chevron’s role in the Eastern Mediterranean and the United States. Rapid advances in shale gas exploration and drilling technologies are increasing production and reducing production costs, thereby promoting market growth. Technological advances have enabled the company to increase shale gas recovery and greatly reduce production costs. For example, 3D seismic technology is used to optimize exploration and drilling processes to increase natural gas production levels and reduce costs associated with exploration, drilling, and refining. Other areas where technology is advancing rapidly in the crude oil and natural gas markets include hydraulic fracturing and horizontal drilling. Therefore, advancements and innovations in exploration and drilling technologies are expected to promote the development of the shale gas market. The countries covered by the shale gas market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom, and the United States. Read the full report: https://www.reportlinker.com/p06151704/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you can get all the market research you need instantly in one place. __________________________