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China waiting on technology to begin shale gas exploration

Jay F. Marks Published: March 16, 2012

China is waiting for the right technology before it starts trying to exploit its shale gas resources, Reuters reports.

China is thought to have a potentially large shale gas resource, but officials don’t expect to begin production until 2020, according to the Reuters report.

Chinese oil companies began their shale push in 2009. They have inked multi-billion dollar deals with Chesapeake Energy Corp. and Devon Energy Corp., two of the leaders in U.S. shale development.

Such deals are expected to help provide CNOOC International and Sinopec with the necessary expertise to develop China’s shale resources.