China is poised to be the world’s second largest shale gas producer by 2040, according to the U.S. Energy Information Administration. China is poised to be the world’s second largest shale gas producer after the U.S. by 2040, when it would account for more than 40 percent of the country’s total natural gas production, the U.S. Energy Administration (EIA) said Monday. The Asian economic giant, who has been among the first countries outside North America to develop shale resources, has drilled more than 600 shale gas wells in the last 5 years, producing 0.5 billion cubic feet per day (Bcf/d) of shale gas as of 2015, according to EIA’s International Energy Outlook 2016 (IEO2016) and Annual Energy Outlook 2016 (AEO2016). China is progressing development of its shale gas resources through joint venture with international oil and gas companies. Earlier this year, BP plc and China National Petroleum Corp. (CNPC) […]