PetroChina targets 30 bcm of coal rock gas by 2035
PetroChina targets 30 billion cubic metres of coal rock gas by 2035. The firm uses fracking in deep basins to reduce Chinas reliance on energy imports.
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PETROCHINA CO LTD-H aims to produce 30 billion cubic meters of coal rock gas by 2035 to boost domestic gas supplies. This target exceeds the record shale gas output achieved last year in China, which represented 10% of national production. Success would reduce reliance on expensive LNG imports and strengthen Beijing's hand in pipeline negotiations with Russia.
