Shale Gas Output Rises

China’s shale gas output increased 76.3% YoY in 2016 to reach a new record high. Breakthroughs in drilling techniques have led China to become one of the leading shale gas suppliers in the world. Looking forward, China plans to raise its annual shale gas output to 30 billion cubic meters in 2020 and 90 cubic meters in 2030. Further, the Chinese government hopes to increase the proportion of natural gas in energy consumption to more than 10%, from the current 5.9% by 2020, and to 15% by 2030.