As the Chinese economy enjoys robust growth, satisfying the country’s energy appetite is becoming a daunting challenge and a top priority for President Hu Jintao and his government. And China is turning to coal as the key to their energy security.
China already relies on coal to generate three-quarters of its electricity, and the coal mining industry hires close to 7 million Chinese.
So it’s not very surprising that coal centric China wants to take advantage of coal bed methane as an alternative source of natural gas, cutting the country’s dependence on Natural Gas imports.
In 2006, it was reported that China used 1.4 billion cubic meters of coal bed methane, or 3% of the country’s total natural gas consumption.
But Beijing has set an ambitious target to increase coal bed methane output to 10 billion cubic meters annually by 2015.
This exciting announcement was made by China’s chief planner Hu Cunzi of the Ministry of Land and Resources at a press conference on Wednesday, 7 January 2009.
Over the past year and a half, the Chinese government has been rolling out a raft of preferential policies to help develop the nascent coal bed methane industry grow and establish. Tax breaks, Subsidies, waiver on import duties for equipment are paying off with foreign investment in China’s coal bed methane sector skyrocketing.
This new announcement is going to create a tremendous buzz among the coal bed methane industry representatives who will be at the upcoming 2nd CBMWorld conference on March 10-11 in Jakarta, Indonesia.
The timely conference which will bring together key players in the regional and global Coal Bed Methane industry features a critical speech Huang Shengchu, President of the China Coal Information Institute on the upcoming investment opportunities and policies for development of CBM in China.
Don’t miss out on this golden chance to quiz Huang Shengchu on the upcoming opportunities in China’s Coal Bed Methane sector.