Wildrose leader Brian Jean talks energy; the Chinese dragon stokes the shale gale; meet Statoil’s young Newfoundland geophysicist
THAT’S HOW MANY YEARS BEFORE CHINA IS LIKELY
to become the world’s second-largest producer of shale gas. That’s according to data from the U.S. Energy Information Administration, which in August predicted the Asian economic giant had drilled more than 600 shales gas wells since 2011, and was producing about 500 million cubic feet of shale gas per day by 2015.
The country has been developing its shale fields through partnerships with international oil and gas companies. Earlier this year, the China National Petroleum Corporation, or CNPC, signed a production sharing contract with BP to explore, develop and produce shale gas from China’s Sichuan Basin.
The EIA estimates that world natural gas production will grow 62 percent from 342 Bcf/d in 2015 to 554 Bcf/d by 2040, with quadrupling volumes of shale gas constituting the largest share of that growth.
The U.S. is projected to remain the world’s top shale producer for the foreseeable future. According to the EIA, Canada’s shale gas production reached more than four Bcf/d in 2015, and is expected to account for almost 30 percent of the country’s overall natural gas production by 2040.
Sinopec technicians work on a petrochemical plant in China’s Henan province