Fuling shale gas field reserves top 100b cubic meters

China Petroleum and Chemical Corp, also known as Sinopec, announced on Monday that newly proven reserves of its Fuling shale gas field now exceed 100 billion cubic meters, further contributing to the country's energy security.

This was announced against the backdrop of China striving to achieve peak carbon emissions by 2030 and hitting carbon neutrality by 2060.

The total proven reserve of the Fuling shale gas field, located in Chongqing, has reached around 900 billion cubic meters, 34 percent of the country's total shale gas reserves, it said.

The company said in October that the Fuling shale gas field has produced more than 40 billion cubic meters of shale gas since it was put into commercial operation in 2014, a record for shale gas cumulative production in the country.

With daily gas production reaching 20 million cubic meters, the gas field could meet the gas demand of 40 million households, said Sinopec.