Release Date: 20-Jun-2012
According to a recently published research report “China Shale Gas Market Analysis” by KuicK Research, China will replicate the success achieved by U.S in shale gas exploration and development in recent years. The ongoing policy initiative by Chinese government and increasing foreign investments and collaboration by Chinese oil and gas companies in North America will help the country to initiate the development of shale gas reserves in coming years
Although shale gas is still in exploratory phase in China being led by Sinopec, they plan to start production by 2013 and considerable production by 2015 with an aim of taking a major jump in 2020. Chinese government has even started twisting its own laws to encourage foreign shale gas E&P companies to partner with Chinese companies or even drill independently. One such deal has already been signed between China National Petroleum Corporation and Royal Dutch Shell to develop a shale gas block.
China is basking in the glory of its recent world’s largest shale finds. With almost 25% more reserves than the United States, China is dreaming about an even bigger energy revolution than the one seen in America. If estimates are to be believed then this 1,275 Trillion Cubic Feet of shale gas reserves found in China will last for about 300 years at the present rate of production and consumption. Since Chinese shale gas scenario is in its early years, the future is large and as of now looks promising. The practical production currently is zero, with a couple of experimental wells producing only 10,000 meters of gas per day but nothing substantial
“China Shale Gas Market Analysis” research report is a detailed literature on the infant Chinese shale gas market and its potential, with a sneak peek into the technology used to exploit shale gas reserves and the Chinese and global companies working overtime to tap into this potential.
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