14 March 2012 06:38 [Source: ICIS news]
SINGAPORE (ICIS)--China will focus on discovering and evaluating its shale gas reserves before 2015 and is expecting to start commercial production in 2016-2020, a state-owned news agency reported on Wednesday.
China is planning to complete the research and evaluation of its shale gas potential and master the exploration technology required for the gas before 2015, Xinhua quoted Liu Tienan, president of the country’s National Energy Administration, as saying.
Liu said the country’s 12th Five-Year Plan for shale gas in 2011-2015, which specifies resource discovery as a major task, will be announced soon.
Liu added that commercial production of shale gas may only begin in 2016 or after.
In addition, China has set goals to achieve 1,000bn cubic metres (cbm) of proven geological proven reserves, 20bn cbm of recoverable reserves and 6.5bn cbm of annual shale gas production by 2015, the report said.
According to preliminary estimations, China’s geological reserves of shale gas are approximately to be at 134,420bn cbm, with a recoverable volume of 25,080bn cbm.
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