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China’s Huge Shale Reserves Even Bigger Than Thought

China discovered almost 27 billion cubic metres (bcm) of exploitable shale gas reserves in 2014, state media said on Thursday, citing the Ministry of Land and Resources.  That put China’s technically recoverable shale gas reserves at 36.1 tcm, exceeding US reserves of 24.4 tcm.

Exploitable natural gas reserves grew by 475 bcm last year and exploitable oil reserves rose 187 million tonnes, reports said. 

China is in the early stages of developing its shale gas deposits, with Sinopec Corp., the country’s second-largest state energy firm taking a lead role. 

Its Fuling field in the country’s southwest, which has so far produced 1.1 bcm of gas, is on track to reach a capacity of 5 bcm by 2015 and 10 bcm in 2017. 

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