COALBED METHANE EXPLORATION & DEVELOPMENT
Significant New Potential for Energy Industry in China
Coalbed methane exploration and development are Sino-QZ Group's new strategy for its business development and consulting services in China, stated by CEO Dr Zhou in China recently.
Despite an unprecedented economic boom in past decades, China is energy deficient and coalbed methane may play a big part in China's energy future. As of 2002, China's natural gas production accounted for only 2% of its energy consumption. China's State Council has set forth a strategic mandate to increase natural gas production to 8% of its energy consumption by the year 2010, and to replace coal by natural gas as the major source for electricity by the 2008 Olympics in Beijing. To achieve this, the State Council has budgeted to spend over $8 billion. Furthermore, a 4,000-kilometer West-East gas pipeline, from the Tarim basin in far northwest Xinjiang Uygar Autonomous Region to Shanghai on the eastern seaboard, is currently under construction with an estimated cost of $US 8.9 billion. The project is rated to deliver 12 billion cubic meters (425 billion cubic feet) of gas annually for at least 45 years.
China's coalbed methane reserves were estimated at about 30 to 35 trillion cubic metres (1060 to 1240 trillion cubic feet), three times the reserves in the United States. A production of 10 billion cubic metres (350 trillion cubic feet) annually by 2010 was predicted. Although the exploration and utilization of coalbed methane has bright prospects in China, it demands high investment and has great risks. Therefore, Chinese government has implemented a series of strategies including increasing overseas cooperation to introduce more technology and funds.
Sino-QZ has very close relationships with coal and coalbed methane industries as well as the related government institutes and departments in China. We have identified and are acquiring a few very prospective exploration projects for coal and coalbed methane with significant resources. Sino-QZ Group welcomes foreign companies' investment and joint venture in this significant new potential energy industry in China. For any information about this, please contact us.
15 JAN 2007 // Melbourne, AUSTRALIA
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