Chongqing Consumption Plan Offers Limited Shale Upside

摘要

Despite the Chinese government's unwavering commitment to develop- ing its vast shale gas potential, we maintain that the growth in the coun- try's shale gas production over 2016-2025 will fall short of government expectations. Short to medium term growth will remain stunted by a complex geology, a defcit in physical infrastructure, gradual removal of subsidies for developers and foundering investment interest in costly shale projects amid sustained weakness in global crude prices.