China and Australia key shale markets

GlobalData reports that China and Australia are becoming two of the most important emerging markets for shale and coal bed methane (CBM) exploration.

In its latest report – ‘Emerging Unconventional Resources Overview - Regulatory Environment, Industry Developments and Key Challenges’ – GlobalData states that China has approximately 643 billion bbl of risked, prospective shale oil and 4746 trillion ft3 of risked shale gas in-place, of which around 32 billion bbl and 1115 trillion ft3 are estimated to be technically recoverable.

Supporting Australia’s LNG industry

The report also claims that Australia is witnessing a substantial development of CBM and shale gas resources. The country’s already well-developed CBM industry would help support a number of planned LNG export projects.

Joseph Gatdula, GlobalData’s Senior Upstream Analyst, said: “The Cooper Basin has emerged as particularly well-suited for shale development, due to the presence of substantial gas processing capacity, gas-pipeline infrastructure and service providers for fracking and well drilling activities in the nearby area.”

Shale gas

Other countries, such as Argentina, Poland, Canada and Venezuela, have also been increasing investment in their shale gas resources.

Poland possesses an estimated 1.8 billion bbl of shale oil and 146 trillion ft3 of shale gas resources, while Argentina’s estimated technically recoverable shale resources amount to 27 billion bbl oil and 802 trillion ft3 of gas, according to GlobalData.