Sinopec to boost unconventional gas production capacity by 2015

Sinopec Group, China’s second-largest oil company, plans to increase its unconventional gas production capacity to more than 2.5 billion cubic meters annually by the end of 2015, a move in line with China’s efforts to diversify its energy mix. Sinopec will speed up the development of unconventional gas including shale gas and coal bed methane during the central government’s 12th Five-Year Plan period (2011-2015). Development of unconventional oil and gas will become an important growth engine for the company’s business in the next five to 10 years, the company said in a statement on its website. The company has started unconventional oil and gas exploration and development in Shanxi, Guizhou, Anhui and Jiangsu provinces, said the statement. (June 2, 2010)