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    CUCBM, Shanxi Provincial Guoxin Energy to Work Together in Natural Gas Sector

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Summary

Chinese coalbed methane (CBM) developer China United Coalbed Methane Corporation (CUCBM) and Shanxi Provincial Guoxin Energy Development Group have agreed to cooperate in the natural gas sector.

by: shardul

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Asia/Oceania

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CUCBM, Shanxi Provincial Guoxin Energy to Work Together in Natural Gas Sector

Chinese coal bed methane (CBM) developer China United Coalbed Methane Corporation (CUCBM) and Shanxi Provincial Guoxin Energy Development Group have agreed to cooperate in the natural gas sector.

CUCBM, a wholly-owned subsidiary of China National Offshore Oil Corporation (CNOOC), wants to combine its expertise in CBM sector with Guoxin Energy's strength in pipeline segment, Xinhua Finance reported.

Currently, Guoxin Energy has 4,017 km of long-distance gas pipelines and 4,200 km of town gas pipelines supplying gas to 4.5 million households in Shanxi province.

China has been working on developing its unconventional hydrocarbon reserves to augment supplies of natural gas in the domestic economy. Shanxi province's Ordos Basin has been the focus area for CBM exploration in the country.

Last month, country’s Ministry of Land and Resources (MLR) said China added 60.193 bcm of newly proven geological CBM reserves in 2014, up 155.3 percent year on year. China also discovered 26.67 bcm of technologically recoverable shale gas reserves last year. 

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