China Bets Big on Gas Technology

By ALISON TUDOR
The Wall Street Journal

HONG KONG—Chinese companies are paying a heavy price to participate in North America's natural-gas boom in a bet on gaining vital new technology and access to a bountiful new source of energy.

Technological advances have opened up massive new gas fields in North America, creating opportunity for Asia's energy-hungry countries. The technology taps gas trapped in rock, called shale gas. Energy consulting firm Wood Mackenzie Ltd. estimates that potential U.S. shale-gas resources total 650 trillion cubic feet. By comparison, proved U.S. gas reserves at the end of 2009 totaled 244.7 trillion cubic feet, according to the BP Statistical Review...

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