The National Energy Administration (NEA) officially unveiled on Friday a target to produce 6.5 billion cubic metres (bcm) of shale gas by 2015, or roughly 6 percent of China’s current total gas production.
But it intends to dramatically boost output to 60-100 bcm in 2020, a level some experts say is over-ambitious as it faces techonological, environmental and regulatory roadblocks.
China’s state energy firms have entered multi-billion-dollar shale deals in the United States with Chesapeake Energy and Devon Energy Corp.
The Ministry of Land and Resources revealed early this month China may hold 25.08 trillion cubic metres (tcm) of potentially recoverable shale gas resources. That compared to a U.S. Energy Informationa Agency’s forecast in March 2011 at some 36 tcm.