China Petroleum & and Chemical Corp Said to have made a significant breakthrough in the exploration and development of shale gas reserves in Chongqing - China Daily
- Would allow the company enter into large-scale commercial development of shale energy earlier than expected.
- Company said to expect an annual output of 10 billion cubic meters of gas by 2017, equivalent to 10 million metric tons of oil.
- Fuling shale gas field's estimated reserves seen at 2.1T cbm.
- Chairman Fu: "The successful application of these developments in Fuling gave us confidence to extend them to other projects around the nation... Given China's abundant shale gas resources, we believe this will significantly support and accelerate the implementation of the country's strategy, increasing the supply of green energy and optimizing the energy consumption structure. It will also deliver benefits to energy conservation, emission reductions and air pollution control."