China Discovers Massive Gas Field

China Discovers Massive Gas Field

China has discovered a large natural gas field in Guizhou Province in the southwest part of the country.
According to the country’s Ministry of Land and Resources’ China Geological Survey, geologists located four layers of shale gas at Anye Well 1 in Zunyi. Tests in one layer found a steady output of 100,000 cubic meters of gas per day.
The CGS said the amount of accessible gas is around 100 billion cubic meters, Oil Price reported.
It added that the reserves could meet the residential, industrial and agricultural needs of approximately 10 million people in the region.
The demand for natural gas in China saw an upswing earlier this year on the heels of price cuts for the fuel, which drew off customers for coal. The government adjusted gas prices twice in 2015 with the goal of stimulating demand for natural gas and accelerating the country's move from coal. Coal accounts for 64% of China’s energy.
Demand for natural gas led to the country increasing its first two shipments by 14% in 2015. During that year, China used 35% more gas than had been predicted by the EIA’s International Energy Outlook for 2010.
Forbes notes that gas remains the country’s fastest-growing fuel. Demand has quadrupled in the last 10 years. The country’s five-year plan calls for the replacement of coal in non-power sectors with gas and electricity.
According to Forbes, China is seeking to increase natural gas to 10% of the country’s energy portfolio.


Short URL : http://goo.gl/Kvn2Qq
  1. http://goo.gl/eEsNz8
  • http://goo.gl/5cVN12
  • http://goo.gl/3TMj7L
  • http://goo.gl/JYwZvV
  • http://goo.gl/h6djB7

You can also read ...

Norway Intends to Build First Offshore Floating Wind Farms
Norway’s Petroleum and Energy Minister Terje Soviknes will...
Venezuela Oil Production May Soon Sink to 1m bpd
Venezuela’s plummeting oil production is nearing the...
GAP envisages the construction of 22 dams and 19 power plants.
Turkey is taking advantage of its abundant supply of ...
OPEC+ to Discuss Q3 Output Surge
The planned increase of crude production by OPEC+ nations of 1...
Egypt Hikes Fuel Prices by 50 Percent
Egypt has raised gasoline prices by up to 50%, its oil...
US-Saudi  Oil Increase  Plan a Ploy Against OPEC
The US political pressure on Saudi Arabia to boost oil output...
Oil Ministry to Modify Contracts With Domestic Parts Producers
The Oil Ministry plans to modify the contracts it had earlier...