But Sinopec's new basin, straddling Hubei and Chongqing provinces, involves complicated geology and will likely rely on China's gas subsidy regime.
Sinopec says it has discovered a massive new shale gas basin in southwestern China, claiming a resource potential of over 165 billion cubic meters (around 6 trillion cubic feet) for the Hongxing formation, which straddles Hubei and Chongqing provinces.
‘Major exploration breakthroughs’ have enhanced China’s energy security and tech developments as self-sufficiency efforts pay off.
China is hailed as the biggest growth market for global LNG, but its diversified energy system and price sensitivity raise…
China is building out its strategic petroleum reserves, which could, when filled, absorb more Opec and non-Opec crude.
The China state refiner issued a notice Sunday that the price of gas will be set higher by a "meaningful" amount starting March…
Inseriti nel nuovo Piano quinquennale di Pechino
Chinese state firms are seeking global trading opportunities as they navigate weaker domestic LNG demand and explore new markets.
