The Natural Gas Supply Association said its calculations indicated that 25 percent of U.S. natural gas demand could be satisfied by the exploiting shale beds located in Appalachia, the Barnett Permian Basin of Texas and other areas of the nation.

Shale gas is locked in the dense shale rock and is released through a process known as hydraulic fracturing in which water and sand are pumped into a well and build up enough pressure to fracture the rock.

"What we've seen so far from shale fields is just the tip of the iceberg," Terry Ruder, vice chairman of the Natural Gas Supply Association, said in a written statement.

Ruder said shale accounted for 6-8 billion cubic feet per day of natural gas this year, about 10-12 percent of U.S. gas demand. He estimated that production could reach 20 Bcfd over the next 10 years.

The promise of shale gas will require some help from the federal government, however.

"To facilitate a steady supply growth of natural gas from shale, we need a stable tax and regulatory environment," Ruder said.