China has the potential to overtake North America and become the world’s leading producer of shale gas by 2030, a poll conducted yesterday at the World Gas Conference in Kuala Lumpur has revealed. 81% of participants thought that China will become the largest shale gas producer in the next 18 years, while 19% thought that it will not.
The Industry Snapshot Poll was conducted by global independent technical advisor GL Noble Denton on the second full day of the World Gas Conference. The poll was also completed online by senior professionals from across the industry.
Richard Bailey, GL Noble Denton’s Executive Vice President for Asia Pacific, said: “The Chinese Ministry of Land and Resources has estimated that the country may have 25 trillion cubic meters of potentially recoverable shale gas. The impact of those reserves could be even greater than in North America, which has turned from a gas importer to a potential exporter in less than a decade.
“Just a year ago, Asian unconventional gas projects were widely considered to be in their infancy, albeit with a promising outlook. The result of this poll highlights the optimism for unconventional gas production in the region. It reflects the belief of some players in the industry that China’s shale gas resources could radically alter the dynamics of supply for the world’s biggest energy consumer, just as shale gas is changing the situation in the United States.”
GL Noble Denton is conducting three Industry Snapshot Polls this week. Delegates are also being asked to vote on whether Japan can decrease its dependence on LNG in the next decade, and if Asia has the infrastructure to support growth in gas consumption. To participate in the poll, visit GL Noble Denton at stand number 1208.