Coal
Bed Methane Market - Overview
Coal Bed Methane is an unconventional form
of natural gas that is found in coal seams. It is primarily extracted from
bituminous and sub-bituminous coals. Coal bed methane can be efficiently used
as a fertilizer with methane being a source of ammonia used in half of the
world’s fertilizer market. Moreover, coal bed methane consists of over 90%
methane and can be harvested independently of coal mining in some
locations. The factors leading to
growing demand of coal bed methane market includes greenhouse gas mitigation,
increased safety and productivity in coal mining operations, and the
possibility of greenhouse gas capture and storage.
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Industry
Highlights
The global coal bed methane market is set
to witness significant growth due to increasing focus on natural gas usage for
energy consumption. Production of natural gas is witnessing significant growth,
on account of the increasing focus on clean energy consumption. Clean bed
methane has considerable potential as an abundant clean energy supply, to help
replace other diminishing hydrocarbon reserves. Thus, coal bed methane is
expected to supplement conventional natural gas supply, adding another
environment-friendly component to the total energy mix. On the other hand, high
initial capital commitment for well drilling, stimulation, and water handling,
and the difficulty in estimation of recoverable volumes in evaluation of coal
bed methane proposals hamper the coal bed methane market.
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Industry
Segmentation
The coal bed methane market has been
segmented based on technology hydraulic fracturing, horizontal drilling, and
CO2 sequestration. Hydraulic fracturing segment is leading the market owing to
the technological advancements achieved in this technique coupled with its ease
of use and will further complement the coal bed methane market during the forecast
period especially in developed countries especially in Europe and North
America, and government initiatives to mitigate greenhouse gas emission.
Key
Players
The key players of the global coal bed
methane market include Baker Hughes (US), Essar Oil (India), Reliance Power
(India), Halliburton (US), Chevron (US), BP (UK), Weatherford (US), Arrow
Energy (Australia), Blue Energy (Australia), Conocophillips (US), China United
Coalbed Methane Co (China), Encana Corporation (Canada), Far East Energy
Corporation (US), Santos (Australia), and Nexen Inc. (Canada), among
others. (Germany), among others.
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