PwC Sees Shale Gas and Coalbed Methane as Possible Solutions to Chinas Domestic Energy Demand, Reports

(PRWEB) May 20, 2012, the premier social networking forum for professionals and alumni of Accenture, Andersen, BearingPoint, Capgemini, Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers, PwC notes that PwC sees vast unconventional domestic gas reserves, including shale gas and coal-bed methane, potentially easing the countrys energy shortfall. reports that Chinas domestic conventional gas production is described as stretched to the limit, but vast unconventional domestic gas reserves, including shale gas and coal-bed methane, could ease Chinas gas shortfall, which is expected to grow nine-fold by 2015. The industry would however need to overcome major pricing, regulatory, distribution and water challenges.

The latest analysis by The China Greentech Initiative (CGTI) – The China Greentech Report 2012 says that other developments include the fact that wind and solar farms costs have fallen dramatically: onshore wind farms in China can now be completed for around RMB 7000/kW and photovoltaic (PV) system costs have decreased from RMB 74,000/kW in 2007 to less than RMB 13,000/kW in late 2011 with costs continuing to drop. This latest analysis is the third annual report on the China Green Tech Market from the China GreenTech Initiative, of which PwC is the strategic advisor.

Allan Zhang, director, PwC Sustainability and Climate Change comments:

The basic fact is that to ensure energy security and supply, China has no choice but to develop and use new forms of energy to meet the growing and seemingly insatiable demand, he says. Technological advances over the years have made wider use of unconventional gases possible, and opened up new sources of energy supply, although many technical hurdles still exist.

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