Sinopec Announces Major Shale Gas Discoveries

China’s Sinopec has made two significant discoveries of shale gas in central-southwestern China containing over 100 billion cubic meters, the company has said, as quoted by the South China Morning Post. Sinopec called the discoveries proof that the deposit, called Hongxing, had strong resource potential and would contribute to national energy security. The company added that the geology at the sites was challenging, with the reserves at depths between 3,300 and 5,500 meters. Despite the challenges, Sinopec’s test well at one of the…