• 4 minutes Will We Ever See 100$+ OIL?
  • 8 minutes Iran downs US drone. No military response . . Just Destroy their economy. Can Senator Kerry be tried for aiding enemy ?
  • 11 minutes Energy Outlook for Renewables. Pie in the sky or real?
  • 1 hour Shale Oil will it self destruct?
  • 7 hours Migration From Eastern Europe Raises German Population To Record High
  • 9 hours Excellent Choice: Germany's Von der Leyen Secures Powerful EU Executive Top Job
  • 1 day Carrot And Stick: North Korea Suggests It Might Lift Weapons Test moratorium
  • 26 mins Washington Post hit piece attacking oil, Christians and Trump
  • 11 mins Berkeley becomes first U.S. city to ban natural gas in new homes
  • 19 hours Germany exits coal: A model for Asia?
  • 14 hours White House insider who predicted Iran False Flag, David Goldberg found dead in his New York apartment
  • 16 hours Starlink Internet Courtesy of Tesla
  • 2 days NYT: Mass Immigration Roundups in U.S. to Start Sunday
  • 19 hours A Silence is heard
  • 1 day South Korea imports No Oil From Iran in June - First-Half Imports Fall 37%
  • 1 day Trump vs. Xi Trade Battle, Running Commentary from Conservative Tree House
Alt Text

OPEC’s Future Looks Bleak As It Extends Deal

OPEC and its partners have…

Alt Text

The Only OPEC Member That Could Challenge Saudi Oil Dominance

Iraq, OPEC’s second biggest producer,…

Irina Slav

Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

More Info

Premium Content

China Becomes World’s Third-Largest Shale Gas Producer

China has become the world’s third-largest shale gas producer, after only the U.S. and Canada, Iran’s PressTV reports, adding that last year, China pumped almost 8 billion cubic meters of shale gas. The annual result was a 76.3-percent improvement on 2015, China’s Ministry of Land and Resources said – a record amount. Investments in shale gas exploration reached US$1.3 billion.

Shale gas production in China has continued to grow this year, as it seeks to move away from crude oil and bets increasingly on gas as the cleaner fuel amid government efforts to reduce pollution levels.

Earlier this month, the Ministry announced it will be opening two more production bases for shale gas in the south of China, and it will also schedule more oil and gas exploration tenders. The two bases will be in the Guizhou province and Hubei province. The tender for the US$193-million Guizhou development project took place on August 18 and the winner was a local company, Guizhou Industry Investment (Group) Co.

China has significant shale gas reserves, but they are located in geologically challenging areas, there is no developed production and transportation infrastructure, and exploration rights are limited, as Bloomberg wrote last year. As of the end of 2015, recoverable shale gas reserves stood at 130 billion cu m, compared with 5.19 trillion cubic meters of conventional gas.

One of the largest shale gas deposits in the country is the Fuling field, with proven reserves of 600.8 billion cubic meters. Related: Texas Oil Production Remains Strong…But For How Long?

This year, however, Beijing announced plans to increase the proven reserves of shale gas in the country to more than 1.5 trillion cubic meters by 2020. This would involve some major investment in recovery technology as well as infrastructure.

Production is also slated to expand to 30 billion cubic meters by 2020, according to the Ministry, and further to 80-100 billion cubic meters by 2030.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play