Release Date: 30-Jul-2013
The exploration and development of shale gas can transform the Chinese energy sector dynamics, according to recent research report “China Shale Gas Industry Analysis”. 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 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.
For more information visit: “China Shale Gas Industry Analysis”