By OGJ editors, Oil and Gas Journal, June 2012
China has the potential to become the world’s largest shale gas producer by 2030, delegates at the World Gas Conference in Kuala Lumpur, Malaysia, said in survey results according to a June 6 poll conducted by GL Noble Denton.
Survey results said 81% of 438 people polled indicated they believe China will become the largest shale gas producer in the next 18 years, while 19% believe that it will not.
Independent technical advisor GL Noble Denton conducted the poll on the conference’s second full day.
Richard Bailey, GL Noble Denton’s executive vice-president, Asia Pacific, said, “The Chinese Ministry of Land and Resources has estimated that the country may have 25 trillion cu m of potentially recoverable shale gas. The impact of those reserves could be even greater than in North America, which has turned from a gas importer to a potential exporter in less than a decade.”
Bailey noted that Asian unconventional gas projects were widely considered to be in their infancy just a year ago.
“The result of this poll highlights the optimism for unconventional gas production in the region,” Bailey said. “It reflects the belief of some players in the industry that China’s shale gas resources could radically alter the dynamics of supply for the world’s biggest energy consumer, just as shale gas is changing the situation in the United States.”