China Bets on Ultra-Deep Shale Gas to Boost Energy Security

China’s state-owned oil and gas major and top refiner Sinopec is ramping up exploration in the shale formations of the Sichuan basin with a view to increasing the country’s shale gas production by a third over the next ten years.

Currently, China’s shale gas total is below government targets, Reuters noted in a report on the news, adding shale gas represents only a tenth of China’s total natural gas production.

Beijing has a shale gas output target of 80 to 100 billion cu m by 2030.

This has prompted Sinopec and other state-owned…