The global potential of shale gas continues to be more apparent as countries outside the USA, and Canada begin to realize the potential of shale gas to meet part of their growing energy needs. China may have the largest shale gas reserves in the world, and their huge energy potential in this energy hungry country will not go unexploited. The USA started to work with China back in November 2009, when US President Obama, and Chinese President Hu Jintao announced a shale gas initiative (See HRN: Obama announces shale gas initiative with China).
On July 30, 2012, China’s Ministry of Land and Resources reportedthe world’s minable shale gas reserves are estimated to reach 187 trillion cubic meters, with more than 36 trillion cubic meters in China.
China’s interest in shale gas exploration is increasing with an estimated output of 6.5 billion cubic meters by 2015, according to Liu Tienan, head of the China’s National Energy Administration (Source: China Daily)