• 4 minutes Tariffs to derail $83.7 Billion Chinese Investment in West Virginia
  • 9 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 17 minutes Kaplan Says Rising Oil Prices Won't Hurt US Economy
  • 3 hours Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 14 hours Corruption On The Top: Netanyahu's Wife Charged With Misuse of Public Funds for Meals
  • 3 hours Saudi Arabia turns to solar
  • 6 mins Why is permian oil "locked in" when refineries abound?
  • 1 hour Saudi Arabia plans to physically cut off Qatar by moat, nuclear waste and military base
  • 7 hours Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 20 hours Gazprom Exports to EU Hit Record
  • 3 hours Teapots Cut U.S. Oil Shipments
  • 2 hours Oil prices going down
  • 20 hours OPEC Meeting Could End Without Decision - Irony Note Added from OPEC Children's Book
  • 3 hours Hot line, Macron: Phone Calls With Trump Are Like Sausages Best Not To Know What Is Inside
  • 16 hours U.S. Withdraws From U.N. Human Rights Council
  • 13 hours EU Confirms Trade Retaliation Measures vs. U.S. To Take Effect on June 22
  • 4 hours Putin Says 'Fierce' U.S. Politics Hindering Summit With Trump
  • 20 hours Could oil demand collapse rapidly? Yup, sure could.
  • 19 hours Sell out now or hold on?

Despite Controversy, China Embraces Shale Gas Extraction

According to China’s Ministry of Land and Resources, the government is preparing to declare shale gas a priority mineral.

In the West, particularly the United States, the practice of extracting shale natural gas via hydraulic fracturing, or “fracking,” is meeting increased resistance from environmentalists, as the process involves pumping liquids under high pressure underground to break apart geological formations entrapping the natural gas.
 
Environmentalists claim that the practice pollutes subterranean groundwater and that the exploratory companies are resisting releasing information on the chemical mix that they are injecting in the recovery process.
 
Shanghai Daily reported that in early 2011 the U.S. Energy Information Administration estimated that China potential shale gas reserves could exceed 36 trillion cubic meters of "technically recoverable" hydrocarbons, which, if verified, would be an amount almost 50 percent higher than the estimated current U.S. reserves.
 
China’s Ministry of Land and Resources, while more cautious than the EIA, nevertheless stated on its website that Chinese reserves could consist of 31 trillion cubic meters, citing an initial appraisal that covered 1.5 million square kilometers of shale-gas-rich areas.
 
Last month the Chinese government awarded China Petroleum and Chemical Corp, more familiarly known as Sinopec, and Henan Province Coal Seam Gas Development and Utilization exploration rights to two shale blocks in the country’s Sichuan Basin, an event which marked the start of commercial shale gas exploration in China along with governmental efforts to boost the use of the more environmentally friendly fuel.
 
By. Joao Peixe, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News