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Delegates at the World Gas Conference (WGC) in Kuala Lumpur, Malaysia, believe China will become the world’s largest producer of shale gas by 2030, according to a poll conducted by GL Noble Denton.
The poll conveyed that 81% of participants thought that China will become the largest shale gas producer in the next 18 years, while 19% thought that it will not.
Richard Bailey, GL Noble Denton’s executive vice president for Asia Pacific, said, “The Chinese Ministry of Land and Resources has estimated that the country may have 25 trillion cu m of potentially recoverable shale gas. The impact of those reserves could be even greater than in North America, which has turned from a gas importer to a potential exporter in less than a decade.”
“Just a year ago, Asian unconventional gas projects were widely considered to be in its infancy, albeit with a promising outlook. The result of this poll highlights the optimism for unconventional gas production in the region. It reflects the belief of some players in the industry that China’s shale gas resources could radically alter the dynamics of supply for the world’s biggest energy consumer, just as shale gas is changing the situation in the U.S,” Bailey concluded.