China halves 2020 shale gas target to 30 bcm

China has halved its target for shale gas to be produced by 2020 from the original goal of 60 – 100 bcm to 30 bcm, dampening the hype surrounding the country's shale gas potential and the accelerated pace with which it can be developed. This supports the high levels of gas import deals signed by Chinese companies in recent months. As China seeks to meet rising gas demand and safeguard its future energy security, we expect more of the same.