PetroChinaThere is no respite in China’s hunt for energy assets. A month after taking a stake in a British refinery, PetroChina is paying $5.4bn to buy into a large Canadian gas field project owned by Calgary-based Encana. Read more
This has been a busy week for US natural gas. It started off with the US signing an agreement to help India exploit its shale gas resources during President Barack Obama’s visit to that country. The agreement mirrored one the US had signed with China some time back to also help that country make the most of its shale.
These are both striking agreements because they demonstrate that other countries see tremendous potential in natural gas. And yet the US government has failed to appreciate the expertise and experience that launched the global shale gas scramble is in its own backyard. The US gas boom has generated so much capacity in America that prices have collapsed. Read more