19 September 2018

SPT Energy sees gas shortage of 22 billion cubic meters in 2013

SPT Energy Group Inc. (01251.HK), a privately owned provider of integrated oilfield services, expects China’s natural gas supply gap to reach 22 billion cubic meters this year, and the supply shortage is set to expand in the coming years.

“Natural gas supply including domestic production and imports will reach 170 billion cubic meters, while domestic demand for the clean fuel may total 192 billion cubic meters,” company chairman Wang Guoqiang {王國強} told reporters in Hong Kong Friday.

Wang expects China’s shale gas industry to enter commercial production stage within three years, faster than the original target of three to five years.

The company is also looking at potential acquisition opportunities, in particular private Chinese firms that have key technologies such as directional cluster wells, he said, adding that it would not consider buying stakes in related state-owned enterprises for lack of reasonable valuation.

– Contact HKEJ at [email protected]



EJI Weekly Newsletter

Please click here to unsubscribe