09 February 2012 20:40 [Source: ICIS news]
HOUSTON (ICIS)--China will likely be the next country to aggressively develop its shale resources, a US-based consultant said on Thursday.
Right now, the country is learning as much as possible from the current drilling renaissance in the US, where horizontal drilling and hydraulic fracturing have made accessible vast stores of natural gas and natural gas liquids (NGLs) trapped in shale rock formations, according to research and consulting firm Deloitte.
However, Deloitte consultant Roger Ihne said it will probably be years before China reaches the current level of US production.
For now, China is content to learn as much as possible from the US.
"The learning piece is the bigger motivator in all of this," said Deloitte consultant Peter Robertson. "There's a ton of shale gas in China. And as we've found out it's not so much about the technology as it is about the know-how.
"The Chinese more than anyone else are going to get it done," he added.
Robertson said China, more than any other country, has embraced the "all of the above" approach when it comes to developing its own energy.
"Their need [for energy] is so great," he said. "China truly is working on all of the above, from coal to wind to sun to ethanol to gas to oil to pipe to LNG [liquefied natural gas] imports to shale gas."
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections