Latest News:  
Beijing   Overcast/Cloudy    14 / 4   City Forecast

People's Daily Online>>China Business

Target set for shale-gas recovery

(China Daily)

11:17, March 17, 2012

BEIJING, Mar. 17 (Xinhuanet) -- China has set a goal of producing 6.5 billion cubic meters of shale gas a year by the end of 2015 as part of a five-year plan to increase the country's capacity to tap the unconventional resource, China's top energy authority said on Friday.

If the country by 2015 makes the technological innovations needed to better explore for and recover shale gas, its annual output of the resource is expected to increase to as much as 100 billion cu m by 2020, said Zhang Yuqing, head of the National Energy Administration's oil and gas department.

In early March, the Ministry of Land and Resources estimated that China has 25 trillion cu m of recoverable shale gas. The recoverable reserves of the gas are expected to reach 200 billion cu m by the end of 2015.

To achieve its goals, China is looking at providing subsidies to companies, cutting licensing fees, exempting import duties for certain technologies and making it easier for companies to obtain the land approvals for shale gas exploration, among other incentives, said Li Cheng, a deputy director from the Ministry of Finance.

If companies fail to meet the country's minimum work requirements and production targets, the government will revoke their rights to explore gas blocks and sell them to others at auction, the National Energy Administration said.

By the end of 2011, the country's biggest oil companies, including China National Petroleum Corp, China Petrochemical Corp, known as Sinopec, China National Offshore Oil Corp, and Shaanxi Yanchang Petroleum (Group) Co, as well as a coalbed methane company, had begun work on shale gas projects.

Royal Dutch Shell Plc is cooperating with China National Petroleum Corp to explore a gas block in Sichuan province, while Sinopec is working with Chevron Corp to conduct seismic surveys on a block in Guizhou province.

China plans to adopt various advanced technologies from foreign companies, Zhang said.

【1】 【2】


Leave your comment0 comments

  1. Name


Selections for you

  1. DPRK's satellite launch plan 'provocative': US

  2. Monkey King swings into New York exhibit

  3. USS Blue Ridge visits Hong Kong

  4. Siberian aborigines - Nenets

Most Popular


  1. Obama brings new trade case against China
  2. Giving is an aid to prosperity
  3. Rare earth case reveals US hypocrisy
  4. What international order should world build?
  5. Is morality improving or declining in China?
  6. China's development contributes world economy
  7. China's diplomacy needs courage and strategy
  8. Death penalty does not hold answer to corruption
  9. Socialist democracy to illuminate China's future
  10. Truth about Tibet is slowly coming to light

What's happening in China

Cold front, heavy fog to sweep China

  1. Villagers concerned about sinking railway
  2. Police rescue 41 women from forced prostitution
  3. High-resolution earth observing system to be built
  4. Chaos behind profiteering imported wine market
  5. "Two sessions" sign language sends good signals

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai