China Shale Delay to Boost LNG Imports in Boon for Exxon: Energy

Feb. 14 (Bloomberg) — China’s ambitions to unlock the natural gas trapped in shale rocks are likely to take longer than planned, boosting the nation’s reliance on overseas suppliers from Exxon Mobil Corp. to Royal Dutch Shell Plc.

Shale gas output will rise to 23 billion cubic meters in 2020, or 29 percent of the government’s 80 billion target, under the average estimate of seven analysts surveyed by Bloomberg. The shortfall, stemming in part from tougher geology, should boost liquefied natural gas imports from about $5.8 billion in 2011 while curbing speculation that the nation can duplicate the U.S. shale boom that has upended global energy markets.

via Business: Washington Post Business Page, Business News.

Categories: Energy, Natural Gas, Resources