Unconventional Hydrocarbons Summit to Be Held in Beijing, China

Unconventional Hydrocarbons Summit to Be Held in Beijing

At the end of the National Energy Conference of China, the government has announced that the Energy Bureau will focus on the shale gas and coal bed methane exploration in the year of 2013. To better illustrate the business outlook and focus on more in-depth technical solutions facing China’s Shale Gas and CBM industry, the 5th Unconventional Hydrocarbons Summit 2013, organized by China Decision Makers Consultancy, will be held in Beijing on June 6-7 2013.

According to a statement released by China’s Ministry of Land and Resources on December 6, 2012, 14 state-owned enterprises (SOEs) and two private enterprises won the second round of shale gas auction for 19 shale gas blocks. Different from the first auction, China Huadian Corporation, one of the five largest state-owned power generation enterprises in China, first time into shale gas exploration field and was the largest winner with five blocks.

China does not produce any shale gas yet, but the recently shale gas industry has attracted the attention of international energy companies such as Royal Dutch Shell Plc, BP Plc and U.S. independents such as Hess Corp and Newfield Exploration Co.

China encourages the foreign firms to tie up with the winners, the ministry has said.

China is to subsidize the development of shale gas in an effort to increase the share of unconventional energy sources in its economy. This comes as a part of a broader ‘shale revolution’.

The government is due to allow 0.4 Yuan, or 6.4 cents, for each cubic meter that’ll be developed between 2012 and 2015, according to Chinese Ministry of Finance.

Mr. Zhang Dawei, director of the Mineral Resources and Reserves Evaluation Center of the Ministry of Lands and Resources of China (MLR), said that the policy will be a big positive to the shale gas exploration.

With this in mind and based on the success of previous Unconventional Hydrocarbons Summit, 5th Annual Unconventional Hydrocarbons Summit 2013 will serve as a much higher-level platform and will attended by government, national oil companies, international oil companies, natural gas companies, Oil-field-services firms, coal enterprises, investors, EPC, vendors, equipment and technology suppliers etc, to illustrate business outlook and focusing on more in-depth technical solutions facing China’s shale gas and CBM industry.

[mappress]
LNG World News Staff, March 08, 2013; Image: cdmc

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