China has been betting big on developing its shale gas resources, driven by surging natural gas demand and efforts to boost energy security. State oil and gas majors have been investing heavily in shale gas development in the key shale provinces and have really boosted shale gas production in recent years.

Although China is estimated to have a lot of shale gas resources, even higher than those in the United States, its shale gas boom has just started. But it could end as early as the middle of this decade because shale gas development in China is more difficult and more expensive than in the United States.

Unlike the U.S., China is subsidizing the development of unconventional natural gas, and it has recently extended subsidies on all unconventional production through 2023 and, for the first time, included tight gas as an unconventional natural gas source eligible to receive subsidies.

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Source: Oil Price