China aims to slash its growing dependence on gas imports by boosting domestic p...
SINGAPORE/BEIJING - China aims to slash its growing dependence on gas imports by boosting domestic projects like shale fields as the security of its energy supply comes under the spotlight amid a festering trade war with the United States.
The report, released on Saturday by the oil and gas department at the National Energy Administration and a State Council research arm, calls for boosting natural gas production in key resource basins in the southwestern province of Sichuan, the Erdos basin in the north and offshore China. “China’s reliance oil and gas imports is growing too rapidly, with oil topping 70% and gas moving toward 50%,” said Lin Boqiang, Director of the Energy Economics Institute at Xiamen University.
Shale gas in Sichuan, the key region for China’s still fledgling shale gas development, could overtake conventional gas in output, the report added.In a separate report carried by official news agency Xinhua on Saturday, Zhao Wenzhi, an influential researcher at China’s Academy of Engineering forecast that China’s shale gas output could reach 280 bcm, or 23% of the country’s total gas output, by 2035.
Dominant state oil and gas firms have already ramped up drilling activities with near-record spending, in response to a call by President Xi Jinping in August last year to boost domestic energy security.
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