China’s revolution in shale gas is more a distant dream than a work-in-progress. The latest round of bidding on shale gas licenses shows there is much to be done.
China wants to shift its energy mix to natural gas from coal so that by 2020, 10% of total energy consumption is gas-based. That compares with about 4% in 2010, according to Jefferies.
Production is picking up—official data showed Wednesday natural-gas output jumped 6.7% in 2012 from a year earlier. But to meet its goals, China will have to bring unconventional shale gas production online.
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Duncan Mavin, Wall Street Journal via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/vFwpxZ4eTWY/
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