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China LNG and Natural Gas Map
Exploitable shale reserves in the continental United States exceed 24.4 trillion cubic meters. This is a staggering amount of natural gas; however China is estimated to have 25.1 trillion cubic meters, thus making China the country with the world’s largest shale gas resources. At this point, China has yet to tap into their shale gas reserves, but plans to do
so within the next few years. Their goal is to invest a whopping 400-600 billion Yuan in order to drill over 20,000 gas wells by the year 2020, as stated by the National Development and Reform Commission.
China is encouraging companies outside of their state-owned industry to invest. Having a total acreage of 20,002 square
kilometers, their shale gas blocks are spread over eight of the Chinese provincial regions. The government
is speeding up the creation of laws on managing the shale gas market, thus improving the standard of technology and clearing hurdles regarding both development and exploration.
In December of 2012, China’s Ministry of Land and Resources released a statement claiming that 14 state-owned enterprises (SOEs) and two private enterprises, won 19 shale gas blocks in the second round of the auction. Energy companies such as BP Plc, Royal Dutch Shell Plc, and US Independents such as Newfield Exploration Co and Hess Corp, have also shown great interest in the Chinese shale gas market. Although foreign firms are not permitted to participate in the auction, they are free to partner with the winners, according to the ministry.
Our China LNG and Natural Gas map provides a clear overview of LNG, natural gas, infrastructure, demand, and unconventional resources. It is an instrumental asset in beginning to understand the potential natural gas opportunities in this vast country.