China sets shale gas output targets
China plans to produce 6.5 billion cubic metres (bcm) of shale gas by 2015 and aims for 80 bcm by 2020, an official with top Chinese oil and gas producer China National Petroleum Corporation (CNPC) was quoted as saying by Chinese media.
The plan, mainly compiled by the National Energy Administration, will likely be disclosed to the public in the near future, the China Securities Journal said in a report on its website.
The targets, if confirmed, would loom large as China has yet to have any commercial shale gas production so far and the 2020 goal would be equivalent to about 85 percent of the country's natural gas output in 2010.
China has not unveiled any supportive measures for shale gas development and the government should announce incentives as soon as possible, Song Xiaodan, deputy chief engineer with CNPC's planning department was quoted as saying.
Petro China, a listed unit running the majority of CNPC's oil and gas businesses, said in August it would pump 1.5 bcm of shale gas in 2015.
China has also aimed for 21.5-23.5 bcm of coalbed methane gas output by 2015, a separate report by the China Securities Journal said, citing a government plan to be disclosed soon to the public by the National Development and Reform Commission.
