Expanding role for offshore gas
A significant percentage of our natural gas supply lies buried beneath the oceans. If developed, it can make a major contribution to the energy mix of the US. During the past year, AGA supported legislation to expedite the lease sale program of the outer continental shelf (OCS). The OCS can play a substantial role in meeting our domestic gas and oil needs in the near to mid-term until alternative energy sources can make a greater contribution to our national energy supply situation. Encouraging developments also are taking place in offshore explorations; Texas recently reported three gas finds from the area of the Canyon tracts. One reason that offshore gas activity has accelerated only in recent years is its high cost in comparison with onshore production. As the more costly equipment and technology for offshore exploration and development becomes available, the returns on investing in this area will continue to increase. (DP)
- OSTI ID:
- 5077715
- Journal Information:
- Ocean Ind.; (United States), Vol. 15:5
- Country of Publication:
- United States
- Language:
- English
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