finance
Sinopec Increases Shale Gas Exploration in Sichuan Basin
Sinopec is expanding exploration efforts in the Sichuan basin to raise China's shale gas output by one third over the next decade. The move comes as current production remains below government targets set for 2030.
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Sinopec plans to increase exploration activity in the shale formations of the Sichuan basin. The company aims to lift national shale gas production by one third within ten years.
Shale gas currently accounts for one tenth of China's total natural gas supply. Output remains below the levels targeted by Beijing.
Beijing set a shale gas production goal of 80 to 100 billion cubic meters annually by 2030. Reuters reported the details of Sinopec's expanded program.
Transparency
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CorroborationModerate · 1 source
