Chinese demand for natural gas is going to increase hugely over the next 25 years, according to the U.S. Energy Information Administration, and American firms are probably going to benefit.
According to an article from Oilprice.com, demand from China will triple by 2040, hitting 17.5 trillion cubic feet. But given that the country has had a hard time developing its own shale resources, there are questions about where that natural gas will come from.
Enter the American firms that have overseen the shale revolution in the United States. Companies including Halliburton are already working with Chinese firms to carry out hydraulic fracturing—commonly known as “fracking”—in the Tarim Basin in the northwestern part of China.
China wants U.S. oil services firms’ expertise—and their technology—in exchange for a bigger piece of the business in that country.
Click here for the full story at Oilprice.com, including a graphic that breaks out China’s current and future supply mix.