DOHA Dec 7 China is set for a shale gas
revolution which will surpass that seen in the United States,
the chairman of Sinopec, the country's second-largest oil
company, said a day after Reuters revealed Royal Dutch Shell Plc
had begun shale gas production in China.
Fu Chengyu, chairman of state-controlled China Petroleum &
Chemical Corp (Sinopec) , said it
could take five to 10 years but that China's output would exceed
that of the United States.
"I think the total reserves are even more than the U.S. so
production is not less than the U.S., but it is a matter of
timing," he told reporters at the sidelines of the World
U.S. energy markets were fundamentally changed by the
development of shale gas. In the space of several years, the
country went from natural gas shortages to a point where
companies are planning to export gas to Asia, and are now
looking at new uses for the abundant gas, such as auto fuel.
Earlier this week, Yuzhang Liu, a senior official with
Shell's partner PetroChina, a unit of the country's
top energy group, state-owned CNPC, said the Anglo-Dutch oil
major had begun shale gas production in China.
Currently, a number of companies are exploring for shale gas
potential in China but there is no commercial shale gas
A U.S. Energy Information Administration report in April
said China had 1,275 trillion cubic feet (tcf) of technically
recoverable shale gas resources -- by far the largest in the
world, followed by the United States with 862 tcf and Argentina
with 774 tcf.
Fu added China planned to learn from the U.S. experience to
avoid some of the problems that arose there around water
supplies and shale drilling.
(Editing by David Holmes)