Energy

Will China be the second largest shale gas producer by 2040?

Published by

China to become world’s 2nd largest shale gas producer by 2040: EIA

China is expected to produce over 20 billion cubic feet of shale gas per day (Bcf/d) by 2040, becoming the world’s second largest producer after the United States, said the U.S. Energy Information Administration (EIA) on Monday.

The production will account for more than 40 percent of the country’s total natural gas production by 2040, the EIA predicted.

In the past five years, China drilled more than 600 shale gas wells and produced 0.5 Bcf/d of shale gas as of 2015, said the EIA in its International Energy Outlook 2016 and Annual Energy Outlook 2016.

” The U.S. shale gas production will stay in the first place as it is projected to more than double from 37 Bcf/d in 2015 to 79 Bcf/d by 2040, accounting for 70 percent of total U.S. natural gas production, said the EIA.

Canada is now the world’s second largest shale gas producer, producing 4.1 Bcf/d in 2015. Its shale gas production is projected to continue increasing and will reach less than 10 Bcf/d, accounting for almost 30 percent of its total natural gas production by 2040.

Shale gas will also become the major driver of the world’s natural gas growth in the next 24 years, said the EIA.

The world’s shale gas production by 2040 is expected to quadruple the level in 2015 and reach 168 Bcf/d, accounting for 30 percent of world natural gas production. The world’s natural gas production is expected to increase by about 62 percent during the same period of time.

At present, only the United States, Canada, China, and Argentina have commercial shale gas production. The EIA believes that with technological improvements, more countries, primarily Mexico and Algeria, will begin to produce shale gas.

These six countries are projected to account for 70 percent of global shale gas production by 2040, said the EIA.

Notes:
1. Xinhua
(This story has not been edited by PGurus.com and is auto–generated from a syndicated feed we subscribe to.)

Recent Posts

Police complaint filed against NCP (Sharad Pawar faction) leader Jitendra Awhad for tearing Dr Ambedkar’s poster

Controversy erupts over Jitendra Awhad's poster tearing incident A complaint has been filed against NCP(SP)…

8 hours ago

Maharashtra CM Eknath Shinde serves legal notice to Sanjay Raut, seeks unconditional apology for ‘defamatory propaganda’

'Apologize unconditionally within 3 days...': Know why Eknath Shinde sent a legal notice to Sanjay…

8 hours ago

S&P Global revises India’s outlook to positive from stable amid robust economic growth

India 'BBB-/A-3' sovereign credit ratings affirmed; outlook stable On Wednesday, Global rating agency S&P Global…

9 hours ago

Congress rattled over PM Modi’s meditation plan in Kanyakumari; TN Congress chief to move ECI

After campaigning ends, PM Modi to take a meditation break in Kanyakumari Congress is rattled…

9 hours ago

Fintech industry leaders hail RBI’s 3 new initiatives to bolster the sector

RBI's latest initiatives to secure and expand digital payments in India On Wednesday, the fintech…

14 hours ago

Former Pak PM Nawaz Sharif admits Pakistan violated 1999 peace agreement with India; says “was our fault”

Nawaz Sharif makes a big confession On Tuesday, former Pakistan Prime Minister Nawaz Sharif admitted…

16 hours ago

This website uses cookies.