Four Chinese energy companies to join forces in shale gas exploration

China Map flag on Yuan illustration
Source: DollarPhotoClub

The Chongqing Administration of Land, Resources and Housing (CALRH), CNPC, State Development & Investment Corporation (SDIC) and Sinochem Corporation are to start drilling for shale gas by June 2014, Chinese media outlet Want China Times reported today. The four companies signed a letter of intent to this effect on May 8th and publicised it in a statement issued on the CALRH website on May 13th.

The CALRH, SDIC and Sinochem, a subsidiary of the Sinochem Group, each have their own respective edge in the development of shale gas.

Sinopec has expanded its shale gas operations in Fuling this year. A report by the Chinese-language Economic Observer noted that the company was targeting building capacity of 5 billion cubic meters by the end of 2015, nearly double CNPC’s target of 2.6 billion cubic meters.

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