The Energy & Project Finance Law Blog
China: The next Shale Gas Boom?
24 October, 2015
In the next decades China will need huge amounts of natural gas to cover its domestic consumption. According to the International Energy Agency (IEA) Chinas natural gas demand will reach 300 – 350 bcm per year until 2019. Also, according to the U.S. Energy Information Administration China possess the biggest amount of the technically recoverable shale gas reserves in the world. Over the last two-three years, the Chinese government made it clear that its goal is to cover a large share of its natural gas demands through the extraction and production of shale gas until 2020. However, the current low oil price environment definitely makes the implementation of this ambition plan rather challenging. Continue Reading