China has been inspired by the success of shale gas in the U.S. and set an ambitious target to increase domestic shale gas production from zero to 6.5 billion cubic meters by 2015. However, it appears that this goal is largely dependent on the efforts of two major state-owned enterprises—PetroChina and Sinopec. Many local and private companies that won bids through competitive processes have yet to produce even a single cubic meter of shale gas.
Behind this situation lies a significant issue: approximately 80% of China’s shale gas resources are controlled by PetroChina and Sinopec. Smaller companies are left with less favorable, high-risk blocks that are geologically challenging and economically unattractive. This imbalance has led to frustration among smaller players who struggle to make progress in the sector.
With just over 20 days left in the year, there has been no official announcement about the third round of shale gas exploration bidding. At a recent industry meeting, officials from the Ministry of Land and Resources confirmed that the third round may not happen this year, and the timeline remains uncertain. Analysts suggest that delays could be due to various challenges, including technical barriers, capital constraints, and regulatory hurdles.
Despite these obstacles, the Ministry of Land and Resources continues to express confidence in achieving the “12th Five-Year Plan†target. Officials point to the progress made by PetroChina and Sinopec, which have already produced millions of cubic meters of commercial shale gas. For example, Sinopec’s Fuling project has reached nearly 73 million cubic meters, while PetroChina has achieved 70 million cubic meters. These figures fuel optimism about surpassing the 6.5 billion cubic meter target.
However, the reality for smaller companies is far more difficult. Private firms like Beijing Titan Tongyuan and Huaying Shanxi Energy have struggled to move beyond the planning stage. Their projects remain in early phases, with no clear timeline for actual drilling or production. This highlights the broader challenge facing independent operators in China’s shale gas sector.
The Ministry of Land and Resources has attempted to open up more blocks through bidding, but many of these are low-quality areas with poor geological conditions. As one expert noted, the best blocks are already occupied by PetroChina and Sinopec, leaving little room for new entrants. This concentration of resources raises concerns about market competition and long-term development.
BP’s Chen Liming has emphasized that the key challenge in China’s shale gas sector is the monopolization of mineral rights by state-owned enterprises. He argues that greater transparency, clearer regulations, and more open access to private and foreign investors are needed to foster healthy competition and innovation.
Regulatory conflicts also complicate the landscape. While the National Energy Administration has issued a new industry policy, some officials from the Ministry of Land and Resources believe the document lacks substantial new measures. There are also tensions between different government agencies over oversight and standard-setting, which can slow down progress.
In conclusion, while China’s shale gas industry has made some progress, it still faces significant challenges, including resource concentration, regulatory complexity, and limited access for smaller players. The path to achieving the 2015 target remains uncertain, but continued efforts to promote openness and efficiency will be crucial for long-term success.
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