10-11 Jun, 2010 - Hong Kong, HONG KONG
The Langham Hong Kong
The Langham Hong Kong
Coal Bed Methane has been in the headlines recently, when Australia’s Arrow Energy announced that they were in talks with Royal Dutch Shell and PetroChina over the acquisition of Arrow’s coal-bed methane (CBM) assets.
The deal is thought to be worth more than US$3bn. Arrow is at the forefront of developing projects to convert CBM into liquefied natural gas (LNG). Shell has had Arrow in its sights for some time and PetroChina's presence in the bid suggests that much of this gas will be destined for the Chinese market.
This news came hot on the heels of BP’s announcement that they were in advanced discussions for a $200 million shale gas joint venture in Texas. The company has also been in talks with Sinopec, the Chinese oil and gas group, over potential collaboration in the exploration and development of shale gas. BP subsequently confirmed in its annual strategy update that unconventional gas, including shale gas and Coal Bed Methane will be a key focus area for the group in the medium term.
ExxonMobil has also been active in unconventional gas and shocked the world when they acquired XTO for a cool $41 billion in December 2009!
Unconventional Gas resources like Coal Bed Methane are growing in importance as major conventional gas discoveries are becoming increasingly rare. It is no wonder that energy majors like Exxon, BP and Shell are building their unconventional portfolios, especially in light of growing demand for natural gas as a source of energy.
Unconventional Gas is likely to become the dominant gas source for Asia over the next decade. With the demand for gas in Asia expected to more than double between 2005 and 2030 according to the Energy Information Administration (EIA), CBM and other unconventional gas sources could meet a significant proportion of the growing demand.
That’s why conferences like the 3rd CBM & Unconventional Gas summit, which is meeting in Hong Kong on 10-11 June this year is attracting the industry’s key stakeholders. Many are participating to receive timely updates on the industry, and identify new business opportunities through high-level panel discussions and networking with government permit issuers, leading technology providers, coal mining companies, gas exploration companies, mining consultants, and relevant industry leaders.
Those keen on participating as delegates, media partners, exhibitors and / or sponsors at the 3rd CBM & Unconventional Gas summit can contact Ms. Nadia Albahar at +65 6346 9114 or email her at nadia@cmtsp.com.sg for more information.
