News Not to Miss: ECF China Shale Gas Weekly Review - Jul 9, 2018
China starts shale gas exploration in Qinghai Province. China recently initiated its first shale gas 2-D Seismic exploration project in Qinghai Province of western area. According to priliminary estimation, shale gas reservoir in Dulan Babaoshan Basin could reach 600 bcm.
CNPC set to increase shale production. CNPC plans to complete its first 10 bcm shale gas production field in southwestern China in 2020. The company expects its shale gas production to reach 20 bcm in 2025 and 40 bcm in 2035.
Fuling Shale Gas: Shale Gas Production Target Overfulfilled. In the first 6 months of 2018, Fuling Shale Gas Field has produced 2.96 bcm shale gas and sold 2.84 bcm gas.
Sinopec Jianghan Oilfield completed clean shale development demonstrative project. After 2 years of research, Jianghan Oilfield completed an environment subject of Fuling Shale Gas clean development on May 31 with two major achievements: establishment of environment management, risk assesment and control system in shale gas development; high-efficient processing technology for shale gas development wastes including oil-based sludge, produced water and soil.
China has not introduced tariffs on US-imported LNG. CHINA'S omission of liquefied natural gas (LNG) from its vast list of US products that face hefty import duties from Jul 6 has preserved a potential weapon should the trade war with Washington deepen.
CNOOC begins work on ultra-deep Lingshui 17-2 in the South China Sea. Construction of China's first self-supporting deepwater gas field has started in order to further tap oil and gas resources in the South China Sea and meet huge domestic gas demand, according to China National Offshore Oil Corporation, the nation's largest producer of offshore oil and gas.
CNPC plans to push construction of its gas infrastructures. CNPC is going to facilitate new planned gas storage facilities in Daqing and Jilin Changchun. Working capacity of CNPC's gas storage facilities is going to reach 11 bcm in 2020 and 15 bcm in 2025. Meanwhile, CNPC is also planning expansion projects for its LNG terminals in Tangshan and Jiangsu.
