China's shale gas development will make the international natural gas market tremble

China has been working hard to develop its own shale gas resources in recent years, but due to geological factors, progress has been limited. But now, the situation is changing. Oilprice.com said that with the development of shale gas, the world's second largest economy is on the road to becoming the world's second largest natural gas producer.
In the latest 2016 International Energy Outlook report, the US Energy Information Administration estimates that China's shale gas production of 500 million cubic feet per day will increase this production to more than 20 billion cubic feet by 2040. . Although 2040 seems to be in the distant future, the growth rate is still amazing, making it difficult to not pay enough attention.
First, China's oil and gas companies are suffering from double torture. One is from the downturn in oil prices, and the other is from the aging of oil and gas fields – many of which are already on the verge. However, China's energy demand has not declined at all. The country is still the world's number one energy consumer. World Finance's data shows that their consumption is 30% higher than the US.
Second, although China currently relies mainly on coal to meet these needs, the cheapest and dirtiest fossil fuels have caused many environmental problems, and China has clearly noticed this. For China, which is increasingly responsible for carbon emissions, natural gas is clearly a good alternative, after all, it is the cleanest fossil fuel.
Finally, China is gradually shifting from a heavy industry to a service-oriented economy. For those energy exporting countries, this is obviously not what they are willing to hear, but fortunately, China's transformation will not be too rapid, and India is gradually repeating China's trajectory and becoming a new industrial greenhouse in Asia. The bad news of oil has become good news for natural gas, and the big players at the international level have begun to bet on the process of turning to China for natural gas. The original view is that China's traditional natural gas is still not enough, and shale gas mining is difficult, so natural gas self-sufficiency is a difficult to near impossible task. There is even more extreme view that the so-called Chinese shale gas is nothing more than a speculation, and there is not much substance. However, the report of the Energy Information Administration tells the world that the situation is not so simple.
In fact, over the years, China has repeatedly proved that as long as they have full determination, they can accomplish tasks that seem impossible. They have strong motives, and there are precedents for the United States. The United States is relying on the shale boom to achieve basic self-sufficiency in energy.
The process of China's self-sufficiency will have a sustained impact on international natural gas prices. Oilprice.com warned earlier this month that China's shale gas will have a disruptive impact once it has achieved breakthrough success. Considering the three factors mentioned above, the possibility of China's success in shale gas development should not be underestimated. China hopes to reduce its dependence on foreign countries at the energy level, and it seems that they are indeed ready to invest heavily in the development of shale gas – knowing that China’s shale gas reserves are estimated to be the highest in the world, equivalent to the United States. 1.7 times.

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