In the following 5 to 10 years, China will give great impetus to promote the development and utilization of shale gas with the annual production reaching 6.5 billion cubic meters in 2015 and 60 billion to 100 billion cubic meters in 2020, according to the "Shale Gas Development Plan (2011-2015)" issued by NDRC(National Development and Reform Committee), Ministry of Finance, Ministry of Land and Resources and National Energy Administration.
Analysts say that the revolution of shale gas would become the new highlight in 2013 global economy and is the hope of realizing the peaceful development of global economy, likely making 2013 to be the "gas station" for a new cycle of economic growth in worldwide.
The boom of shale gas reflects on China International Petroleum & Petrochemical Technology and Equipment Exhibition (cippe), which is the barometer of the industry. In cippe2013, numerous exhibitors will launch shale gas exploration and development equipment such as drilling machine, fracturing trucks and downhole equipment, including Cameron, Baker Hughes, National Oilwell Varco, Rockwell, Honeywell, Sinopec (Jiangzuan Joint-stock Corp. and SJ Petroleum Machinery Co.), Yantai Jereh, Sichuan Honghua, Anton Oil, Great Wall Drilling and RG Petro.
What's concern, the enterprises from USA will organize a national pavilion covering an exhibition area of more than two thousand square meters.
Along with the huge demand of the market, many international oil giants and domestic well-known corporations plan to give a full display of shale gas technology and equipment on cippe, the largest petroleum exhibition in the world. Moreover, lots of technologies will be unveiled for the first time.
In the other day, Ministry of Land and Resources officially released the bidding result of the second round of shale gas exploration rights. There are 19 blocks and 16 winning candidate enterprises generated in this bidding. Statistics show that Chinese shale gas industry needs to dig about 40,000 wells with a total investment of 800 billion yuan before 2020. The investment of equipment accounts for about 25% to be 200 billion yuan in it which means the average annual demand would be nearly 22 billion yuan. In the coming years, equipment demand of Chinese shale gas industry is expected to have an average annual growth of around 50%.