Boao Forum for Asia Holds “the Shale Gas Revolution” Sub- Forum
The sub-forum “the Shale Gas Revolution: the New Power to Change Supply and Demand Pattern” of the Annual Conference 2013 of Boao Forum for Asia (BFA) was held recently. The energy giants and the energy experts of china all said they favored the Shale Gas Exploitation of China.
Frank•Eng Sally，chairman of the board of Pacific Ocean Energy Development Company, expressed that America has been keeping the position of the first largest exporter in the world since 1982, but China has changed from the second largest exporter into the importer in the world. At the same time, China has become the first energy consumer after America in 2011. “The Shale Gas Exploitation will take more opportunities for china” said Frank and he expected china can achieve self sufficiency in shale gas like America.
Robert D.Hormats, Deputy Secretary of State ,Economy, Energy Resources and agricultural business State, USA, reckoned the achievements of shale gas and shale oil in North America can be copied in other countries. The development of shale gas in America mainly depends on sufficient sources, and china also has the shale resources.
Ren Keying, China Regional chairman, the CEO of Bank of America Merrill Lynch called, ‘the future of Chinese shale gas is very bright.’ According to the relevant reports, the exploitable resource of Chinese shale gas is 1275 trillion cubic feet (36 trillion stere). Ren Keying said the figure is as much as American reserves. He hoped the government can support in encouraging exploitation, pricing mechanism, etc.
Zhang Guobao, director of the experts’ advisory committee of National energy sources Commission of China, also expressed the biggest advantage of Chinese shale gas is the abundant reserves at present.
The serves of Chinese shale gas has won many affirmations, but Chinese energy exerts admit the shale gas exploitation of china is “restricted”.
Gao Zimin, secretary of the Party committee of SHENZHEN ENERGY corporation, vice-chairman of China Entrepreneur Association, said: “ it is not so easy to copy American shale gas exploitation.” He said the geological distribution conditions of Chinese shale gas is more complex, as well as the utilization for water and land sources must be considered. Zhang Guobao said Chinese shale gas is imbedded more deeply than America, so the strengthened the study on scientific research and investigation and study should be strengthened more.
On exploitation technology, David Sandalow, the energy department`s acting Deputy Secretary, the assistant secretary of energy for policy, U.S. expressed the technology enterprises of America are willing to come to China.
On Financing, Zhang Baoguo said:” It isn’t the main problem because Chinese energy enterprises are comparatively abundant and private enterprises also participate in the project.”(Liu Chenyao) （translated by TLRHVC）
About CHINA MINING
Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.
CHINA MINING Congress and Expo 2013 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 2-5, 2013. We invite you to join the event and to celebrate the 15th anniversary of CHINA MINING with us. For more information about CHINA MINING 2013, please visit: www.chinaminingtj.org.
