China Finds Huge Shale Gas Reserves

Via Scoop.it#GreekCrisis

“Econintersect: Leslie Hook, has a blockbuster today: China is sitting on vast reserves of natural gas trapped in shale beneath Sichuan province. Hook, the Financial Times reporter for commodity news in China, reports PetroChina (NYSE:PTR) has so far drilled about 20 wells. Natural gas trapped in shale is known as shale gas and the new discoveries could transform China’s energy future from its extreme dependence on imported oil. According to Hook, the discovery could provide a potentially cheap and plentiful new source of fuel for the world’s biggest energy consumer. Click on caption image for larger picture.”
Via econintersect.com

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Posted on December 8, 2011, in Uncategorized. Bookmark the permalink. Leave a comment.

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