CNPC to Develop Shale Gas Resources in Chongqing

CNPC and Chongqing Municipal Government on May 20 signed strategic cooperation agreement in Chongqing.

The agreement was signed for the 13th Five Year Plan Period (2016-2020).

According to the agreement, CNPC and Chongqing Municipality Government will carry out comprehensive cooperation in shale gas exploration and development, natural gas chemical industrial development, pilot structural reform on oil and gas, and construction of oil and gas sales network and natural gas pipeline network, in an effort to enhance oil and gas supply, facilitate the economic transformation and upgrading, and support the stable economic development in Chongqing.

PetroChina Vice President Tian Jinghui and Weng Jieming, Member of the Standing Committee of Chongqing Municipal Party Committee and Executive Vice Mayor of Chongqing signed the agreement on behalf of the two sides.

The Chongqing Municipal Government also signed a similar cooperation agreement with Sinopec this month. After signing the agreement Sinopec stated that it is aiming to produce 10 billion cubic meters (bcm) of shale gas by 2020 from its Chongqing field. The first phase of Sinopec's Fuling shale gas field in Chongqing went into production last year.