Royal Dutch Shell Plc has found shale gas in China, a development that could cap imports in a market natural gas producers are hoping will drive demand. An official with Shell's partner, PetroChina , a ...
Emerging Money submits:Chinese energy producers are courting foreign companies for their expertise in extracting natural gas from shale, in what may be larger reserves than what has been found in the U.S.
China, consuming energy at the fastest pace among major economies, has set ambitious targets to exploit its reservoirs of shale gas, the same fuel the U.S. touts as the means to energy independence. It won’t meet them.
Royal Dutch Shell plc (ADR) (RDS.A) announced that it plans on cutting down investment in the shale gas project it signed up for in China’s Sichuan province. The company made the decision due to geological challenges, and dense population in the area.
The Anglo-Dutch oil giant signed the agreement with the government of China in March, to help the country meet its growing energy demand by investing in major projects.
The United States is set to grab the first and biggest chunk of unfilled extra Asian demand for shipped gas between now and 2025 with help from a widened Panama Canal and prices that rivals could struggle to match.
A surge in U.S. natural gas production thanks to the shale revolution means proposed new liquefied natural gas (LNG) projects in Australia, East Africa, Canada and Russia can no longer count on exporting to the United States and will now have to focus more on sales to Asia.
Royal Dutch Shell and China’s Sinopec Corp are drilling exploration wells to test shale potential in central China, where little prospecting for the fuel has been done, company officials said on Thursday.
China, believed to hold the world’s largest shale gas resource, has drawn international firms like Shell, Exxon Mobil , Chevron, Eni and Total to hunt for the unconventional gas, with Shell the first among them to land a production sharing contract.
Royal Dutch Shell Plc will spend $1 billion developing China’s shale gas reserves, according to Peter Voser, the company’s chief executive.
Shell has won government approval for its production sharing contract with China National Petroleum Corp., the nation’s biggest oil and gas company, Voser said in an interview in Beijing today. He didn’t specify a timeline or other details for the $1 billion investment.