The Annual Shale Gas Technology & Equipment Event
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China's shale gas production in 2014 will surpass 1.5 billion cubic meters, 7.5 times that of 2013, an energy expert predicted on Tuesday.
Jiang Xinmin, a researcher with the Energy Research Institute under the National Development and Reform Commission, the country's top economic planner, also predicted that China's shale gas production would top 6.5 billion cubic meters in 2015.
China has seen dramatic growth in shale gas production since 2013. By of the end of July, the country had invested 20 billion yuan (3.25 billion U.S. dollars) on exploiting 54 possible shale gas fields, said Jiang.
The shale gas industry is lucrative in drilling, gas equipment development, engineering services and gas chemical development but has a number of difficulties in commercial development, including the high costs, environmental protection and technology bottlenecks, he said.
China has the largest recoverable reserves of shale gas in the world.As the world's largest energy user, it is looking to reduce its reliance on imported oil, coal and gas by tapping these rich shale reserves.
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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