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Will China surpass its shale gas production target for 2015?

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Will China surpass its shale gas production target for 2015?

Asked by: Super Usermayank in Business » Economics
Settled on 03/28/2024 20:21 Settled by Super UserJosef Biesenberger

Predictions

Background

China is likely to cross its shale gas production target for 2015, as the world's largest energy consumer has been able to start a number of fracking projects with improved techniques.

The official Shanghai Securities News reported that state-backed China National Petroleum Corporation (CNPC) has completed its preliminary development plan for shale gas exploration in northwestern province of Sichuan.

CNPC, China's largest oil producer, currently has nine shale gas wells running at its Sichuan shale gas-fields with a combined production capacity of more than 80 million cubic metres.

Furthermore, the company plans to put more than 110 wells in operation by the end of the second quarter of 2015.

China targets shale gas production of 6.5 billion cubic metres in 2015, which it previously thought to be difficult to achieve due to a slowdown in commercial exploration practices.

http://www.ibtimes.co.uk/china-likely-surpass-2015-shale-gas-production-targets-exploration-efforts-gather-pace-1438468

http://www.ecns.cn/business/2013/11-15/88721.shtml

Find similar: china, shale gas

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