China claims to have greater reserves of oil and gas locked up in shale deposits than the US. Photo: Bloomberg
China may have the world’s largest minable shale gas reserves, about 20 percent of the world’s total, according to a report published on the website of the Ministry of Land and Resources on July 30.
The report said the world’s minable shale gas reserves are estimated to reach 187 trillion cubic meters, with more than 36 trillion cu m in China.
The top five countries with the largest minable shale gas reserves are China, the United States, Argentina, Mexico and South Africa.
China’s interest in shale gas exploration is increasing with an estimated output of 6.5 billion cu m by 2015. From 2016 to 2020, the country will enter a fast-growing period in shale gas exploration and development, Liu Tienan, head of the National Energy Administration, said in June.
Shale gas is natural gas formed from being trapped within shale formations. The gas has become an increasingly important source of natural gas and may transform the future world’s energy outlook.