December 3, 2013
The U.S. has undergone a major energy boom as a result of shale drilling, but it isn’t the only nation with expansive shale gas reserves. The U.S. Energy Information Administration estimates that China could be sitting on top of 1,275 trillion cubic feet of natural gas, 50% more than America. That would make China the largest shale gas play in the world.
While North American natural gas prices are low, Asia is a very lucrative market for dry-gas producers. Royal Dutch Shell (NYSE: RDS-A ) has teamed up with PetroChina (NYSE: PTR ) to try to tap into China’s colossal reserves.
Up and up
Shell signed a deal with PetroChina back in 2012 to develop a block in Sichuan. Shell and PetroChina plan on ramping-up drilling activity in 2014 once all of the appraisal wells are completed.
Shell and PetroChina are drilling appraisal wells in the Fushun-Yongchuan part of the Sichuan, with commercial production planned for beyond 2014.
This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
EBOOK TITLE: “SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON
EBOOK TITLE: “JOHN DONOVAN, SHELL’S NIGHTMARE: MY EPIC FEUD WITH THE UNSCRUPULOUS OIL GIANT ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON.
EBOOK TITLE: “TOXIC FACTS ABOUT SHELL REMOVED FROM WIKIPEDIA: HOW SHELL BECAME THE MOST HATED BRAND IN THE WORLD” – AVAILABLE ON AMAZON.
