Any Cyrpus news today?
http://uk.reuters.com/article/2011/12/28/cyprus-natgas-idUKL6E7NS0PA20111228
In a few hours, there is going to be a news conference to announce if any Natural Gas has been found in the waters claimed by Cyprus.
Over the weekend, I saw a video from AlJaeera about the massive Natural Gas field in Turmenistan
a field believed to contain 25 trillion cubic feet for natural gas. 100 CF of natural gas is roughly equal to 1 gallon of gasoline…. so their gas field is the equivalent of about 250 billion gallons of gasoline.
Just imagine the effect of “fracking” being applied to old played out oil and gas fields. “Peak Oil” my ass.
Oops, my bad. It is 25 trillion cubic meters, not cubic feet. .. it’s 35 times as much… so it’s closer to say 100 cubic meters of natural gas = one barrel of oil.
You’ll notice they mention that China has built an 1100 mile natural gas pipeline in two years
http://en.wikipedia.org/wiki/Central_Asia_%E2%80%93_China_gas_pipeline
So how is our Keystone pipeline coming along?
I expect the survey teams for the trans-Canadian pipeline route are pretty busy this week. The option for the U.S. pipeline is obviously postponed until 2013, after the presidential election and the new Congress is seated. Even if the government finally gives approval there will be a long series of “environmental” court challenges to delay construction. By the time all the legal arguments are done it’ll be the year 2052, nuclear fusion will be the energy of choice, the trans-Canadian pipeline will have been in successful operation for 40 years, and any wealth producing opportunity the U.S. might have had from the Keystone pipeline proposal will have been squandered.
I was looking at Google Maps/Earth trying to spot the Turkmenistan pipeline (there is also an oil pipeline from Kazakhstan that parallels the gas pipeline.
It’s an incredibly desolate and hostile part of the world, but the Chinese did it. Russia was couting on Central Asia not being able to export the “Soviet Union’s” raw materials from the former Soviet Union other than through Russia. Eventually this is going to come to a head between Russia and China.
5 trillion cubic feet is the estimate
http://m.cyprus-mail.com/cyprus/finding-gas-easy-now-comes-hard-part/20120101
Using 100 cf = 1 gallon of gasoline, that’s about 50 billion gallons of gasoline equivalent – ballpark value of $100 billion over the next 20 years