Shell plans to drill as many as 25 wells in 2012.Shell just signed a production deal with CNPC.Chinese shale may hold 1,275 trillion cubic feet of technically recoverable gas, or 12X's the country’s conventional natural-gas deposits, according to a U.S. EIA report published in April. China’s “technically recoverable” reserves are almost 50% more than the 862 trillion cubic feet held by the U.S., the EIA said!!!
Do not worry. Natural gas price in Asia is 16-20 USD/mmbtu.
So,should but PUT's?
Move over North America, another shale heavyweight producer is coming on the scene.