China’s Sinopec last week signed a cooperation agreement with the Chongqing Municipal Government for the exploration of shale gas and the development of natural gas infrastructure.
According to the agreement, Sinopec is targeting 10 billion cubic meters in annual shale gas output in the Chonquin city, in China’s southwest, with a total annual shale gas production capacity of 15 bcm by 2020.
Additionally, Sinopec will be involved in developing the natural gas refueling stations network in Chongquing.
According to the information from U.S. Energy Information Administration, China’s technically recoverable shale gas resources are estimated at 1,115 trillion cubic feet.
LNG World News Staff