Chevron Starts China Shale Gas Exploration, Builds Sichuan Plant
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Chevron Corp. said it began exploring for shale gas in China, holder of the world’s biggest reserves of the fuel, and expects to start a natural gas processing plant in the country next year.
“The company signed a joint study agreement to explore for gas from shale resources in the Qiannan Basin in April and commenced seismic operations in July,” the second-largest U.S. energy company said in a filing to the Securities and Exchange Commission yesterday, without identifying its partner in the project in southwestern Guizhou province.