A RigZone.com article explains why the natural gas from shale boom that has occurred in the United States is not making much of a bang in many other countries.
More at RigZone.com.China Gas
Chinese Shale Investments
China has more oil and natural gas in shale than the United States but they have produced very little. Instead they are joint venturing with companies working in the United States to learn about the technology.
More at Business Week.
Chinese Shale Investments
China has more oil and natural gas in shale than the United States but they have produced very little. Instead they are joint venturing with companies working in the United States to learn about the technology.
More at Business Week.
Foreign Investments in US Shale
Since 2008, foreign companies have entered into 21 joint ventures with U.S. acreage holders and operators, investing more than $26 billion in tight oil and shale gas plays.
More at Energy Information Administration.
China: Enormous Shale Gas Goals
The Chinese government believes that their country has about 25 trillion cubic meters of natural gas in shale formations. Although their present production rate is very low, they hope to be producing 60 billion cubic meters per year by 2020.
More at Scientific American.
South China Sea Oil and Gas Report
Many of the world’s most important energy trade routes pass through the South China Sea. The sea is underlain by significant oil and natural gas deposits, some of which are undeveloped.
Many of the islands in the South China Sea have competing claims of ownership, primarily because ownership of the island brings with it a claim to resources beneath the surrounding seafloor.
More at Energy Information Administration.
The Natural Gas Path to Asia is through Canada
Exxon Mobil is targeting natural gas development projects in Canada where they can freely export the gas as LNG to Asian markets.
More at Bloomberg.
China Energy Report
“China is the world’s most populous country and has a rapidly growing economy, which has driven the country’s high overall energy demand and the quest for securing energy resources. [...] China is the world’s second largest oil consumer behind the United States, and the largest global energy consumer.” Quoted from the Energy Information Administration.
More at Energy Information Administration.
China & Singapore Investing $1B in Cheniere LNG?
Cheniere Energy Partners may have two new major investors in their Cheniere LNG plant that will liquefy natural gas on the US Gulf Coast for shipment to Asia.
More at Reuters.
Shell: $1B/Year on China Shale Gas
China has the world’s largest unconventional gas resource and the largest population. An article on the Reuters website reports that Royal Dutch Shell is budgeting at least $1 billion per year for developing shale gas in China.
More at Reuters.
China’s Shale Gas Challenge
Although China is believed to have 50% more natural gas in shale formations than the United States it also has larger technical and infrastructure barriers.
More at National Geographic.
New Export: Hydraulic Fracturing Technology?
Hydraulic fracturing could be the technology that will have the greatest economic impact on world energy supplies over the next decade or even over the next century. It is currently being used extensively in the United States but other countries are a…
More at Washington Post.
Oil Field Services for China’s Shale Gas
China has an enormous shale gas resource that has seen very little development. Now some U.S. companies are investing in Asian oil field service companies that will likely play important roles in developing Chinese gas shales.
More at Wall Street Journal.
CO2 Emissions and Current Fossil Fuel Use
The International Energy Agency has an article about global carbon dioxide emissions. During 2011 they increased by 1.0 Gt to a new record high. Some quotes:
* “What China has done over such a short period of time to improve energy efficiency and deploy clean energy is already paying major dividends to the global environment”
* “India’s emissions rose by 140 Mt, or 8.7%, moving it ahead of Russia to become the fourth largest emitter behind China, the United States, and the European Union.”
* “Despite these increases, per-capita CO2 emissions in China and India still remain just 63% and 15% of the OECD average respectively.”
More at International Energy Agency.
Shell: Early Shale Results from China
Royal Dutch Shell reports that early drilling results in the shales of China are “encouraging”. Some experts believe that China may have a large shale gas resource than the United States.
More at Fox Business.
China: Price Controls on Natural Gas
An article on the Bloomberg Businessweek website reports that natural gas in China is about 5x the cost of natural gas in the United States. These high prices have supported record imports of LNG.
More at BusinessWeek.com.
Royal Dutch Shell on Shale Gas in China
Royal Dutch Shell’s Chief Financial Officer, Simon Henry, reports that Chinese gas shales can be more challenging than shales in the United States, however, they can produce gas at well below the liquefied natural gas [1] import price.
[1] http://geology.com/articles/lng-liquefied-natural-gas/
More at Reuters.com.
Natural Gas as a Vehicle Fuel in China
An article on the Forbes.com website explores the use of natural gas as a vehicle fuel in China. “At the end of 2010, more than 80 cities across China had gas refilling facilities and the number of CNG/LNG refill stations totaled more than 1,000.” They appear to be way ahead of the United States.
More at Forbes.com.
China’s First Shale Gas Production-Sharing Contract
China is thought to have more shale gas than the United States but so far the resource is undeveloped – partly because of a lack of technology. Royal Dutch Shell will help change that by entering into a production sharing contract with the China National Petroleum Corporation.
More at Bloomberg.com.
China: The Sleeping Shale Gas Giant
China is thought to have a larger shale gas resource than the United States. Although it is not yet being tapped, China is expected to become a leading gas producer by 2020.
More at MarketWatch.
Natural Gas in China’s Coal Measures
“The U.S. Geological Survey estimated a mean of 448 billion cubic feet of potential technically recoverable unconventional natural gas in Carboniferous and Permian coal-bearing strata in the eastern uplift of the Liaohe Basin, Liaoning Province, China.” Quoted from the USGS press release.
More at USGS.
Chevron Looking for Shale Gas in China and Argentina
Chevron announced that they are exploring for shale gas in China’s Qiannan Basin and Argentina’s Vaca Muerta Formation.
More at Bloomberg.com.
US Gas Shales Attract Worldwide Investors
In just the past few weeks companies from China, France and Japan have purchased large holdings in the Eagle Ford, Utica and Marcellus Shales.
More at Bloomberg.
Another Big Chinese Purchase of US Shale Plays
Sinopec, a major Chinese oil and gas company also known as China Petroleum & Chemical Corporation Limited, will purchase a 1/3 share of Devon Energy’s holdings in five shale plays in the United States for $900 million in cash and contribute $1.6 billion towards future drilling expenses. Properties in the Utica Shale, Tuscaloosa Marine Shale, Niobrara Shale are included.
More at Business Week.
Shell Finds Shale Gas in China
Shell and PetroChina drilled two vertical wells to test the natural gas potential of shales in the Sichuan Basin. China is thought to have the largest recoverable shale gas resource in the world but it remains untested.
More at Reuters.
Natural Gas to Asia from Kitimat, BC
Natural gas prices in Asia are three times higher than prices in North America. Natural gas producers, Apache, Encana and EOG Resources hope to cash in on that by building a liquefied natural gas plant near Kitimat, British Colombia that will prepare …
More at Business Week.
Exxon: China Shale Gas Assessment
Exxon Mobile and China Petrochemical will work together on an assessment of the shale gas potential of southwestern Sichuan Province. Although shale gas in China is largely untapped the country is thought to have an even greater potential than the United States.
China: The Shale Gas Resource Leader
The shale gas boom that started in the United States is spreading globally. A recent report from the Energy Information Administration indicated that China has the world’s largest technically recoverable shale gas resource. Beijing is now working to help their shale gas resource get off the ground quickly with research funding and other assistance. More at MSNBC.com.
PetroChina Buying Canadian Shale for $5.4 Billion
PetroChina plans to purchase half of EnCana’s Montney Shale assets in Alberta and British Columbia for $5.4 billion (Canadian). In the past 14 months Chinese oil and gas companies have acquired $46 billion in foreign resources. More at RigZone.com.
China’s CNOOC Ltd. Buys 1/3 of Chesapeake’s Niobrara
An unusual entry into the Niobrara Shale is CNOOC Ltd., China’s largest offshore energy company. They are buying 1/3 of Chesapeake Energy’s Niobrara Shale assets for $570 million cash. More at Bloomberg.com.
