In the first half of 2006, total
energy consumption in China reached 1.3 billion kwh, an increase of 12.89
percent compared to the same period a year ago. According to China, the
Council Secretary General Wang Yonggan electricity, power shortages continue to
plague China, but he hopes they will help a little. In early 2005, twenty-five Chinese
provinces suffered power cuts. energy deficits are still expected China to the
east, North China and part of southern China during the peak months of the
summer, although China spent more than $ 9 billion in the first half of 2006 to
improve the power transmission capacity.
But China will continue to feed their plants so that
they can produce electricity? Nearly 84 percent of the power of China is
thermally powered primarily by coal. 30,000 coal mines in China produced more
than two billion tonnes in 2005. China has helped to increase the price of
uranium with its plans to significantly increase its nuclear energy program.
Reducing coal consumption rate
Slowly, China is trying to wean itself off coal. While China said it plans to expand its hydro, nuclear and renewable energy programs to increase its electricity production quota, the country plans ambitiously to more than double the amount of natural gas in its energy mix. Development and Reform of China plans to increase gas supply capacity in the country to 30 gigawatts, but the head of the electricity of China Council announced that gas deficiencies are probably not to this objective reach.
New Gas Discovery Spurs More Husky Energy Exploration Activity
Not for lack of trying. In June, Husky Energy announced a gas discovery in the depths of the South China Sea, about 155 miles south of Hong Kong. Fu Chengyu, President of Husky Chinese partner China National Offshore Oil Corp (CNOOC) called the discovery of gas "a huge breakthrough for us." The discovery may allegedly contain 3.5 trillion cubic feet of gas. Last week, Husky Energy and CNOOC signed three new contracts for production sharing exploration for oil and gas in deepwater blocks in the eastern and western South China Sea.
Big announcement of China in mid-July invited more independent foreign oil companies to explore for up to nine blocks northwest China. Analysts said that as the biggest step forward in China to cooperate with large oil and gas companies since 1994. China is eager to advance these new projects to maintain its natural gas pipeline running 2,200 miles ability to provide its large coastal cities in eastern China.
Australian LNG to help China Energy Mix
At the end of September, the city of Shenzhen in Guangdong Province in southern China, will start production of electricity supplied to the Australian gas. Platform Northwest Australia LNG PTY plans to send each year more than three million tonnes of liquefied natural gas (LNG) for the next 25 years. The LNG contract worth $ 25 billion are larger contract resources of Australia. The agreement entitled the Chinese company to have about 1.1 trillion cubic feet of gas and over 210 million gas liquids project barrels in Western Australia. Because of previous long-term contracts with Japan, China may not be able to sign new gas agreements with Australia before 2010.
Coalbed Methane Development in China
What can China do about its coal mines that feed the electricity production of the country? Rising oil costs have forced China to move forward to convert coal to petroleum products. Thirty coal liquefaction projects are now in the planning or detailed feasibility study stage. The Chinese plan to spend more than $ 15 billion to produce 50 million tons of coal liquefaction oil by 2020.
Chinese Premier Wen Jiabao, a former mining engineer, was favorable to the situation of coal miners. New restrictions and regulations have increased safety for coal miners. Methane gas in coal seams is the culprit behind the pollution and widespread death coal mines. There are nearly a decade, China United Coalbed Methane layer (CUCBM) was formed to capitalize on the wasted methane released into the atmosphere during the extraction process. Following the evolution of San Juan Basin of New Mexico and Wyoming the Po River basin, the Chinese are determined to use "unconventional gas", also known as coal bed methane (CBM) as source the significant energy.
A researcher from the China United Coalbed Methane (CUCBM) wrote: "In 2010 and 2020, the natural gas supply shortage in China will be 30 billion to 40 billion cubic meters and 90 billion to 100 billion cubic meters, respectively. "In 13 major coal basins in China, 10 coal -bearing basins are located in northern China, with 22.27 billion cubic meters of coal bed methane resources, which represents 68% of total coalbed methane resources in China. It is estimated conservatively that coalbed methane will represent 20- 25 percent of the energy of the gas. Major oil companies, and those with the closest connections to Chinese government officials, were first awarded, as Arco, Phillips, Greka and Lowell oil from Australia. Already small US companies, such as Far Eastern Energy, were invited to participate.
One example: Pacific Asia China Energy
In 2005, Canadian public companies obtained CBM concessions - the first listed company in Canada to not one but two production sharing contracts was Pacific Asia China Energy (TSX: PCE). An assessment by CBM testing firm, Sproule International of Calgary, assessed the scenario "most likely case" of the Guizhou property company in southern China to 5.2 trillion cubic feet. We Vice President of the holding company, Dr. David Marchioni on China's vision on the CBM in the near coal energy mix. Pacific Asia China Energy (PACE) can become an important test, with its huge concession square 970 km in the province of south-central Guizhou province in China, where the company would earn 60 percent by funding the exploration program and driver. Is this China's blend of power assistance ? Industrial, no shortage of gas to run their plants. "China's coal mines are chasing us very actively advancing this program, because they are in the need for reclassification. "
CONCLUSION
In 2010, it is a good bet China will have invested tens of billions to build your energy portfolio. Four years from now, China could avoid the potential energy crisis.
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