China's proven shale gas reserves 764.3 billion cubic meters, ranking first in the world

[beijingwalker]

China's proven shale gas reserves are as high as 764.3 billion cubic meters, ranking first in the world

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[beijingwalker]

China’s Sinopec makes huge shale gas find​

Chinese giant makes new discovery in Sichuan basin

21 October 2022 8:14 GMT

Sinopec, China’s second largest energy company, has made a significant shale gas find in the Sichuan basin, paving way for it to establish 100 billion cubic metres per annum of gas production in southwest China.

Sinopec said the Jinshi-103 appraisal well drilled at Leshan city with a designed well depth of 3920 metres flowed 258,600 cubic metres per day of gas.

The successful well lead to the discovery of 387.8 Bcm of shale gas reserves, with possible shale gas in place reaching more than 1 trillion cubic metres.

This is the second shale gas discovery in the Sichuan basin that Sinopec has announced since July, when it revealed that the Xinye-1 discovery well drilled on the Xinchang structure flowed at a rate of 530,000 cubic metres per day during testing.

This is the second shale gas discovery in the Sichuan basin that Sinopec has announced since July, when it revealed that the Xinye-1 discovery well drilled on the Xinchang structure flowed at a rate of 530,000 cubic metres per day during testing.

The Xinchang structure is located in the Xinchangnan-Dongxi-Dingshan-Lingtanchang area on the southwest rim of the Sichuan basin, which Sinopec estimates holds around 1.19 Tcm of shale gas — China’s second largest shale gas discovery after its flagship Fuling shale gas play, which is also located in the Sichuan basin.

Sinopec is already China’s largest shale gas producer. Production from the Fuling shale gas field in Sichuan basin alone last year reached 7.2 Bcm, accounting for 31% of China’s total shale gas throughput in 2021.

China’s Sinopec makes huge shale gas find

Chinese giant makes new discovery in Sichuan basin

www.upstreamonline.com

 

[beijingwalker]

China buys huge amount of oil and gas only because they are cheap in the global market, if push comes to shove, China can be self reliant in energy supply.

 

[Hamartia Antidote]

China buys huge amount of oil and gas only because they are cheap in the global market, if push comes to shove, China can be self reliant in energy supply.

That's pretty much why countries buy manufactured goods from China.

 

[beijingwalker]

That's pretty much why countries buy manufactured goods from China.

So this balance is being kept and we are both happy, right?

 

[MH.Yang]

1. The exploitation cost of these shale oils is too high. If the international oil price is not high, we might as well buy oil directly from the Middle East.

2. We need ways to balance the already huge trade surplus. Holding too much foreign exchange reserves for a long time will cause losses due to currency depreciation.

 

[Beast]

That's pretty much why countries buy manufactured goods from China.

Why dont they buy from Africa or South Asia since their labour cost is even much cheaper than China....

1. The exploitation cost of these shale oils is too high. If the international oil price is not high, we might as well buy oil directly from the Middle East.

2. We need ways to balance the already huge trade surplus. Holding too much foreign exchange reserves for a long time will cause losses due to currency depreciation.

Precisely, I got a good laugh when troll claim how US domination of sea will cut off China oil import from middle east and choke China. More like China ban exporting commodities to western and they collapse first.

 

[MH.Yang]

Why dont they buy from Africa or South Asia since their labour cost is even much cheaper than China....


Precisely, I got a good laugh when troll claim how US domination of sea will cut off China oil import from middle east and choke China. More like China ban exporting commodities to western and they collapse first.

If the United States imagines China giving in, it is actually very simple. As long as the West eliminates its hostility and threat to Russia. I mean disbanding NATO and allowing Russia to join the European Union.

The joint efforts of the United States, the European Union and Russia can indeed cut off China's sources of resources. But it also means that the United States has lost its hegemony, and the EU with Russia is enough to become a new hegemony.

 

[Hamartia Antidote]

Why dont they buy from Africa or South Asia since their labour cost is even much cheaper than China....

Well if that is the case then if China buys oil and gas overseas because it is cheaper how come China isn't buying stuff from Africa/SouthAsia where as you say it would be cheaper...seems just as illogical...

 

[beijingwalker]

Well if that is the case then if China buys oil and gas overseas because it is cheaper how come China isn't buying stuff from Africa/SouthAsia where as you say it would be cheaper...seems just as illogical...

How much oil and gas Africa has? and are they cheaper than oil and gas from other regions?

 

[Beast]

Well if that is the case then if China buys oil and gas overseas because it is cheaper how come China isn't buying stuff from Africa/SouthAsia where as you say it would be cheaper...seems just as illogical...

Its buying Africa mineral and their resources. Tell me, what has africa produced that is better and cheap than made in China?

 

[Hamartia Antidote]

How much oil and gas Africa has? and are they cheaper than oil and gas from other regions?

What does oil production have to do with labor costs in Africa/SouthEast Asia?

Tell me, what has africa produced that is better and cheap than made in China?

You just said why aren't countries using Africa..and now you just answered your own question.

 

[beijingwalker]

What does oil production have to do with labor costs in Africa/SouthEast Asia?

low labor cost doesn't mean cheap end products, you do know this simple common sense, don't you?

 

[Beast]

What does oil production have to do with labor costs in Africa/SouthEast Asia?



You just said why aren't countries using Africa..and now you just answered your own question

That's pretty much why countries buy manufactured goods from China.

Look what u typed in reply to beijingwalker.. Who is taking what.

low labor cost doesn't mean cheap end products, you do know this simple common sense, don't you?

In fact, China do not offer low labour cost but high efficient cost. China labour is not cheap compare to Africa or South Asia.

Some products is more expensive than South Asia product but it last 10 times longer than them. If China product cost only 30% pricy than South Asia product but last 10 times longer. I dont think we need a genius to answer which will you buy.

 

[beijingwalker]

Shale gas deposits of over 140b cubic meters discovered in SW China
11:27, 25-Nov-2022

Sinopec, China's largest oil refiner, has discovered a new shale gas field with proven reserves of nearly 146 billion cubic meters in southwest China's Sichuan Basin.

The new shale gas field straddles Chongqing City's Qijiang District and neighboring Guizhou Province's Xishui County.

The latest discovery demonstrates the great potential for deep shale gas exploration and development, and is expected to further contribute to China's energy security, according to the chairman of Sinopec.

Shale gas deposits of over 140b cubic meters discovered in SW China

Sinopec, China's largest oil refiner, has discovered a new shale gas field with proven reserves of nearly 146 billion cubic meters in southwest China's Sichuan Basin.The new shale gas field straddles Chongqing City's

news.cgtn.com