China will rank 2nd in shale gas production by 2040: EIA
In line with the increasing shale gas production, China’s shale gas production will account for more than 40% of the country’s total natural gas production by 2040, according to the EIA’s latest forecast.
Currently, Canada is the world’s second largest shale gas producer with an output reaching 4.1 Bcf/d in 2015. The EIA expects the country’s shale gas output to increase 10 Bcf/d by 2040.
The US will remain the top shale gas producer and its shale gas production is expected to increase from 37 Bcf/d in 2015 to 79 Bcf/d by 2040.
According to the EIA, the world’s shale gas production will significantly rise to 168 Bcf/d, accounting for 30% of world natural gas production by 2040.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Lackluster demand outweighs tightness in Asian ABS markets
- Will costs drum up support for a 3rd-month-firming in Europe PET market?
- Import PE markets give softening signals in China, SE Asia
- PVC supplies tight, demand robust across Europe
- China’s local PP, PE markets snap nine-week rally
- Turnarounds keep PP supply tight in SE Asia
- European PP market sees step backs from initial July offers
- Focus turns to August in Turkey: PP and PE players sidelined amid blurry outlook
- SEA PE uptrend intact, yet increases capped by reduced demand
- Taiwanese major hikes Aug PVC offers to Asia as limited availability outweighs monsoon effect