The Annual Shale Gas Technology & Equipment Event
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It is reported by PetroChina, China's largest oil company, is looking to produce 1 billion cubic meters of shale gas in China's Sichuan province by 2015, a lofty goal considering the company currently produces no shale gas.
By 2015 in August, China has only just begun to tap what are believed to be vast shale gas reserves and has no commercial production as of yet. PetroChina said that the firm aimed for a total output of 1.5 billion cubic meters of shale gas.
According to the report, the country consumed about 100 billion cubic meters of natural gas in 2010, but that figure is expected to triple by the end of this decade.
China, the world's top energy consumer, is also the world's largest polluter and has been looking to boost its consumption of cleaner-burning fuels to reduce that pollution footprint.
Royal Dutch Shell and BP Europe's two largest oil companies, are among the firms helping Chinese energy giants tap into shale gas reserves there.
Sinopec, China's second-largest oil company, has yet to announce an official shale gas production forecast.
Unconventional natural gas has become a global hotspot. It is changing the pattern of the world energy. Shale gas will become one of the three energy resources in the next 20 years. Read More >
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