Shale gas tops China agenda
Executives expect measures to encourage further unconventional development
CHINA is primed for a further push into the unconventionals sector, with leading industry executives saying the country plans to set up a number of measures to encourage further shale-gas development under its 12th five-year plan, which runs until 2015. The news came as Shell chief executive Peter Voser unveiled plans to spend $5bn over the next five years in China’s shale- and tight-gas plays. Total is also moving into China, having recently teamed up with PetroChina on a $2bn unconventional-gas project in Mongolia.
The development, which will come on stream next year or in 2013, will produce 50,000 boe/d at plateau. Further details were not immediately available. Meanwhile, Zhao Zhiming, the deputy chairman of China Petroleum and Petrochemical Equipment Industry Association, says the country will reinforce policy to support shale-gas exploration over the life of the next five-year plan in a bid to boost the country’s energy security.