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To: Dennis Roth who wrote (171963)

8/22/2012 7:44:01 AM

From: elmatador

Respond to of 206160

NG prices in China may rise 80% from current levels as the government stimulates domestic production from shale to reduce its energy imports, according to Bank of America Merrill Lynch.

ELMAT: They want money to circulate inside the Chinese economy even though consumers pay higher prices. State capitalism, you know.

Natural gas prices may rise 80% to bolster shale

Last Updated(Beijing Time):2012-08-22 11:02

Natural gas prices in China may rise 80 percent from current levels as the government stimulates domestic production from shale to reduce its energy imports, according to Bank of America Merrill Lynch.

Gas may rise to as much as 2.6 yuan per cubic meter, equivalent to $11.4 per million British thermal units, by 2016 as the government revises its pricing formula for the fuel, Bank of America said in a report e-mailed on Tuesday.

Higher import costs and delays in signing a deal for supplies from Russia have pushed China to develop alternative plans for meeting gas demand, according to Merrill. The government's target of as much as 100 billion cubic meters of domestic annual shale-gas production by 2020 may account for as much as 28 percent of the nation's total gas consumption and "crowd out" the need for incremental imports, it said.

"We are moderately optimistic about the future of shale gas in China, given abundant resources, a strong balance sheet for the oil sector in China, and high interest in the private sector to invest in resources," Thomas Wong, a Hong Kong -based research analyst at Merrill, said in the report

To: Dennis Roth who wrote (171963)	9/13/2012 7:07:07 AM
From: Dennis Roth	1 Recommendation Read Replies (2) \| Respond to of 206160

Tech Talk - Chinese Gas Shale Development Posted by Heading Out on September 10, 2012 - 12:57pm theoildrum.com China launches long-awaited second shale gas bid round, offers 20 blocks Singapore (Platts)--10Sep2012/554 am EDT/954 GMT platts.com

To: Dennis Roth who wrote (171963)	3/27/2013 2:18:22 PM
From: Dennis Roth	1 Recommendation Read Replies (1) \| Respond to of 206160

Shell gets nod from China to explore shale by Cathy Adams March 27, 2013, 3:26am cityam.com ENERGY giant Shell got a boost from its China drilling programme yesterday as the government approved a production sharing contract to explore a shale gas block... --- Shell Plans to Spend $1 Billion on China Shale Gas Development By Bloomberg News - Mar 26, 2013 4:09 AM ET bloomberg.com