China, US to Jointly Advance Shale Gas Development
China and the US yesterday publicized a joint statement on energy safety cooperation, and their partnership to jointly develop shale gas became one of the key points again. Based on their MOU inked in November 2009, the two countries come up with an action plan, upon which the US will assist China with the shale gas development on the strength of its experience in conventional natural gas exploitation, in accordance with related Chinese laws and regulations.
In addition, both sides are set to cooperate in the evaluation of shale gas resources, exploration and exploitation technology improvement, and constitution of related policies in the near future. The international oil prices are on the surge, so shale gas, as a kind of conventional energy, has drawn more attention. Benefiting from a batch of increasingly successful shale gas commercialization projects, the conventional natural gas output of the US is adding dramatically, which even can change the nation's current natural gas industrial structure. Remarkably, its success in the commercialization of shale gas development brings he hope of self-supporting natural gas supply to China.