"The world's third largest reserve country" has attracted foreign investors to invest more than 1.2 billion yuan in foreign investment in CBM development

Since this year, China United Coalbed Methane Co., Ltd. has signed agreements with four foreign companies to develop coalbed methane. In addition, more than a dozen foreign companies came to China to negotiate coal seam methane production with relevant authorities. So far, exploration and exploitation of CBM in 26 regions that foreign energy companies have signed on in China have exceeded RMB 1.2 billion. This is what the reporter learned from many parties.

CBM, commonly known as "gas," is a new energy source with high calorific value and no pollution. According to preliminary exploration, China's underground CBM resources within 2,000 meters are between 30 trillion and 35 trillion cubic meters, equivalent to the country's 38 trillion cubic meters of conventional natural gas resources, and it is the third largest after Russia and Canada. Large CBM reserves have great potential for exploration and development. According to industry insiders, because of the poor gas permeability of coalbed methane, as well as geological conditions, equipment, and other factors, the development of coalbed methane in the country has been restricted for a long time and has not been developed and utilized on a large scale. In recent years, under the background of energy shortage, coalbed methane has begun to receive domestic attention, and coal chemical technology with coalbed methane development as a leader has also made breakthroughs in succession. At the end of last year, the demonstration project for the high-tech CBM industrialization in Qinshui County, Jincheng City, Shanxi Province was successful. This opened the prelude to the development of domestic coalbed methane.

At the same time, due to the fact that the state has no restrictions on foreign companies' access to the coalbed methane industry, there are many supportive policies. Therefore, foreign energy companies have targeted the Chinese coalbed methane industry. On March 9, the Canadian Hongtu Research Company signed a product sharing contract with China National Coalbed Methane Co., Ltd., which is jointly invested by PetroChina and China Coal Group and specializes in the development of coalbed methane for foreign cooperation. This is the fourth agreement between Chinese and foreign companies to develop coalbed methane this year. So far, foreign energy companies have signed contracts for exploration and exploitation of CBM in 26 regions in China. The investment has exceeded 1.2 billion yuan and is divided from 50% to 70%.

The development of coalbed methane has attracted great attention from all walks of life. The reporter learned that at the fourth session of the 10th National Committee of the Chinese People's Political Consultative Conference (CPPCC) that had just concluded, there were 12 proposals concerning the development of coal-bed methane utilization in coal chemical industry such as Shanxi. These proposals all hope that the country can scientifically use the valuable energy of coalbed methane, and neither waste nor lose it.