Release Date: 25-Jul-2012
The exploration and development of shale gas can transform the Chinese energy sector dynamics, according to recent research report "China Shale Gas Market Analysis" published by KuicK Research. As per the report findings, shale gas found in China can meet its energy needs for more than 50 years at a normal rate of production. The recent success of North America has given China the required thrust to prioritize its shale gas development. At 1,275 Trillion Cubic Feet, China has the world’s highest shale gas reserves, considerably higher than the US with 862 Trillion Cubic Feet, indicating the kind of economic potential that shale gas holds after the surprising success that the US has been able to squeeze out of almost half the reserves.
The report says that China lacks the technological ability to develop shale gas resources on its own, for which it has invited North American companies, the masters of the art that have given the US such unprecedented success, to partner with its domestic companies and help produce the shale gas. The research report has given the meticulous details of all the transactions and joint ventures that have been formed by foreign companies with the Chinese companies and also gives the details of the money that China has invested in building its knowledge resource outside the country. China has invested about USD 13.32 Billion in buying shale gas blocks or partnering with expert firms all around the US to gather the knowledge and tactics for shale gas development.
The development of shale gas in China is still slow and very basic but the government's determination can clearly be seen through its actions. The report has suggested that the Chinese government has come up with a separate plan for shale gas development, called ‘the plan', as part of its 12th Five Year Plan for 2011 to 2015. Under 'the plan', the government has issued diktats to all its national companies to make shale gas development their foremost priority.
The report says that the future of Chinese shale gas is bright and large and once it gets the requisite technological expertise, it will only be a matter of time before it rises as a major gas exporter in the Asian region and decreases its import dependency considerably and boost its energy security.
The research report "China Shale Gas Market Analysis" is a detailed study of the factors that will be instrumental in giving China the much required thrust to its economy through shale gas development. The report gives a balanced future scenario of the Chinese shale gas market with the possibilities of high, medium and low production, giving the reader an insight into the market as the future case may be. It also gives the companies involved in shale gas development in China, led by Sinopec that will play the major role in making it a runaway success, much on the lines of the US. The report also takes a look at the political, social and economic factors that might affect shale gas development in the country and also provides a sneak peek into the technological advancements that are required by China. The report is a comprehensive read covering all aspects of Chinese shale gas development and showing the imminent path that the shale gas will take in China.
For more information visit "China Shale Gas Market Analysis".