ChinaScope Financial reports that over the past year, shale gas has become a new focus in China’s energy sector. According to the preliminary evaluation by the Ministry of Land and Resources, China’s recoverable continental shale gas reserves (excluding reserves in Qinghai and Tibet) at the end of 2011 reached 25 trillion cubic meters, equivalent to the volume of conventional natural gas reserves. Experts said that if the shale gas reserves are fully explored, it can be used for nearly 200 years based on the current natural gas consumption.
According to the nation’s shale gas development plan released earlier, China’s shale gas output is expected to reach 100 billion cubic meters by 2020. As a result, the world’s second largest economy would greatly reduce its imports of natural gas and reliance on liquefied natural gas as well as change the current high dependence on imported oil and gas.
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