Green Dragon Gas: New Chinese Energy Development Plan

Posted by Katie Woodward - OilVoice


Green Dragon Gas Ltd. (LSE: GDG), one of the leading independent unconventional gas development and production companies in China, welcomes the Chinese Government's and National Energy Administration's development plan, released last week, that targets the percentage of China's energy mix to be accounted for by coalbed methane consumption.

Highlights of the Plan

  • Planned increase in coalbed methane consumption to 13 per cent of energy mix by 2020
  • Significant increase in investment in Chinese coalbed methane development, adding 420 billion cubic metres (2,641.6 mmboe) by 2020 to national proved reserves
  • National production to increase to 24 billion cubic metres per year (151 mmboe) in 2020, an increase of 33 per cent from 2015
  • Decrease colliery gas incidents by 15 per cent by 2020
  • Exemption of certain coalbed gas exploration and development equipment from import tariffs and VAT from 2016-2020
Randeep S. Grewal, Chairman and Founder of Green Dragon, commented:

"The Chinese Government has again affirmed its support of coalbed methane gas development as it progresses with safety enhancements and rapidly shifts towards a cleaner energy profile. This is great news for the country, and Green Dragon Gas is poised to assist in delivering this planned surge in domestic demand. China has the third largest coalbed methane reserves in the world and Green Dragon Gas has a vast acreage to exploit, and we continue to enjoy the cooperation of our Chinese partners, working together to help deliver increases in both production and reserves from our blocks."

New service from OilVoice
Trip Shepherd is for companies who need to track their staff in areas of risk.
It's free to use, so we invite you to try it.

Green Dragon GasChinaEnergy Development Plan

More items from katie

Shell announces appointment of new Company Secretary

Royal Dutch Shell plc announces the appointment of Linda Szymanski as Company Secretary with effect from January 1, 2017. Ms Szymanski succeeds Michiel Brandjes who retires at the end of the year after 36 years of service with the Shell group, of which 13 years was as General Counsel Corporate and C ...

Katie Woodward - OilVoice

Posted 3 years agoPress > ShellPeople on the MoveCompany Secretary

Spartan Energy Corp. Announces Closing of Previously Announced Strategic Light Oil Acquisition, 2017 Corporate Budget and Increase in Borrowing Base to $350 Million

CALGARY, ALBERTA--(Marketwired - Dec. 8, 2016) - Spartan Energy Corp. ("Spartan" or the "Company") (TSX:SPE) is pleased to announce the closing of its previously announced strategic light oil acquisition in southeast Saskatchewan from ARC Resources Ltd. (the "Acquisition"). The Acquisition includes ...

Katie Woodward - OilVoice

Posted 3 years agoPress > Spartan Energy CorpAcquisition2017 +2

ARC Resources Ltd. Closes Sale of Saskatchewan Assets

CALGARY, Dec. 8, 2016 /CNW/ - (ARX – TSX) ARC Resources Ltd. is pleased to announce that it has successfully closed the previously-announced sale of its Saskatchewan assets and operations to Spartan Energy Corp. (SPE – TSX), for total cash consideration of $700 million, subject to customary post-clo ...

Katie Woodward - OilVoice

Posted 3 years agoPress > ARC ResourcesSaskatchewanAssets +2

Perpetual Energy announces 2017 capital spending and production guidance

CALGARY, Dec. 8, 2016 /CNW/ - Perpetual Energy Inc. ("Perpetual", the "Company" or the "Corporation") (TSX:PMT) is pleased to announce its capital spending plans and expected production growth for 2017. Perpetual's success in advancing its strategic priorities in 2016, coupled with strengthening co ...

Katie Woodward - OilVoice

Posted 3 years agoPress > Perpetual Energy2017CAPEX +1

First LNG produced from PETRONAS' first floating LNG facility PFLNG Satu

PETRONAS' first floating liquefied natural gas (LNG) facility, PFLNG SATU has achieved an industry breakthrough with the successful production of its first drop of LNG from the Kanowit gas field, offshore Sarawak on 5 December 2016. The operational milestone marks a decade long journey for PETRONAS ...

Katie Woodward - OilVoice

Posted 3 years agoPress > PETRONASLNGPFLNG Satu +1
All posts from katie