China speeds up Shale Gas development

China is set make major technological breakthroughs in developing Shale Gas to optimize the Nation’ s energy structure, the Nation’s Top energy official said Thursday.

The National Energy Administration (NEA) is studying a policy of setting up pilot exploration areas and striving to industrialize shale gas as early as possible, NEA’s director Liu Tienan said in talks with Peter Voser, Chief Executive Officer of the Royal Dutch Shell Group in Beijing.

Shale Gas is an important unconventional source of Nat Gas. China has exploitable reserves of 26T cubic meters, as much as that found in the USA. The massive reserves are largely undeveloped. Due to Shale being difficult to permeate, the exploration process is highly technology-dependent.

According to a National energy strategy studied by NEA and the National Development and Reform Commission, China will select 50 to 80 potential Shale Gas areas and 20 to 30 exploration areas by Y 2020. The exploration capacity is expected to hit 1T cubic meters.

Paul A. Ebeling, Jnr.

www.livetradingnews.com

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Posted by Shayne Heffernan on Mar 25th, 2011and filed underBRIC, Equities, Latest News.You can follow any responses to this entry through theRSS 2.0You can leave a response by filling following comment form or trackback to this entry from your site