Shell has reportedly struck shale gas in China. Drilling at two wells returned positive results, a spokesperson for PetroChina told Reuters. The Chinese firm is working with the British oil and gas giant on four blocks in one of its exploration projects in the country.
Shell could not confirm the find, but a spokesperson told ELN “exploration in the block is ongoing”.
The IEA predicts a significant rise in demand for gas from China over the next 25 years, with a majority expected to come from imports. A new shale find could potentially have a big impact on the Chinese gas market.