According to a recent report from Reuters, China is currently experiencing a boom in shale gas production. To those who live in the United States, this should sound familiar; the US itself has been experiencing a surge in domestic energy production, largely due to the shale oil and gas reserves the nation has only recently begun to seriously tap.
Reuters reports that China’s own shale energy boom is based in regions like Chongqing, a municipality that is projected to reach as many as 1.5 billion cubic metres of shale gas production by 2015. This report has won the attention of GWC Valve International.
GWC Valve International may not be an oil or gas company, but the company plays an integral role within the global energy community. The company produces industrial valves that are essential for worldwide producers of oil and gas; as such, the company’s clients include energy production companies from across the globe. Its position within the international energy community makes GWC uniquely suited to comment on global energy trends, such as those outlined in the recent report from Reuters.
The company has issued a statement affirming the shale production trends reported by Reuters, noting that they are hardly restricted to China. "With similar project line experience in United States oil and gas fields, GWC Valve International’s product line has been used in numerous projects like these, and that trend does not seem likely to change any time soon," says the company’s CEO Dave Meador. The company also predicts that it will be doing increased business with Chinese energy producers, given that it has manufacturing and distribution centers already operating in China.
The Reuters report, meanwhile, notes that while China is the world’s largest user of energy, the nation has yet to begin an earnest shale oil endeavor. Though the country is only beginning to explore its shale oil reserves, it is widely believed that these are the largest shale reserves in the world.
The Chongqing municipality is widely speculated to be one of China’s most significant sources of shale oil and gas. The region is home to 30 million people and overlaps with other gas-rich areas of China. Several wells have already been drilled in the area, including at least one that has produced an industrial flow. Local authorities say that they plan to drill somewhere between 150 and 200 wells in the area before the end of 2015.
GWC Valve International is a worldwide manufacturer and distributor of valves, including those used by oil, gas, mining, mineral, and petrochemical companies. The company is based in California but serves clients all over the world.