Sun Maoyuan, general consultant of China United Coal Corporation and expert of the National Energy Advisory Committee attended the “2012 China International Petroleum, Petrochemical and Ocean Engineering Technology Conference†on the 10th, stating that the factors influencing the development and utilization of coalbed methane are the first is the complex geological conditions in China and the coalbed gas surface There is no suitable series of technical processes for exploration and development, and difficult-to-find CBM fields still need to be tackled.
He believes that the second factor that affects China's CBM development is insufficient exploration investment. In the recent ten years, the company’s investment in exploration has been insufficient, investment channels have been sluggish, and the country’s funds for coalbed methane exploration have been relatively low. Sun Maoyuan said that although PetroChina, Sinopec and CNOOC three major oil companies "have stepped into the development of coalbed methane", but the investment is still not enough, the need for private capital intervention. In addition, given that the U.S. tax rebate for CBM development has reached more than half of the final CBM sales price and the subsidies are very strong, Sun Maoyuan believes that China's CBM subsidy currently only reaches 0.33 yuan/m3 and the financial subsidy is insufficient. He suggested that Should be considered to reach 0.4 yuan / cubic meter.
For the hotly debated development of coalbed methane and the overlapping of coal mining rights, Sun Maoyuan believes that this is not the key issue for the development of coalbed methane because the country has 4.28 million square kilometers of land for oil and gas rights, and coal mines account for 180,000 square kilometers. Coalbed methane accounts for 60,000 square kilometers, of which only 20,000 square kilometers coincide with CBM and traditional mineral resources. Most of the overlapped parts are currently withdrawn from the agreement, and now it is technical and investment issues that restrict CBM development.
He believes that the second factor that affects China's CBM development is insufficient exploration investment. In the recent ten years, the company’s investment in exploration has been insufficient, investment channels have been sluggish, and the country’s funds for coalbed methane exploration have been relatively low. Sun Maoyuan said that although PetroChina, Sinopec and CNOOC three major oil companies "have stepped into the development of coalbed methane", but the investment is still not enough, the need for private capital intervention. In addition, given that the U.S. tax rebate for CBM development has reached more than half of the final CBM sales price and the subsidies are very strong, Sun Maoyuan believes that China's CBM subsidy currently only reaches 0.33 yuan/m3 and the financial subsidy is insufficient. He suggested that Should be considered to reach 0.4 yuan / cubic meter.
For the hotly debated development of coalbed methane and the overlapping of coal mining rights, Sun Maoyuan believes that this is not the key issue for the development of coalbed methane because the country has 4.28 million square kilometers of land for oil and gas rights, and coal mines account for 180,000 square kilometers. Coalbed methane accounts for 60,000 square kilometers, of which only 20,000 square kilometers coincide with CBM and traditional mineral resources. Most of the overlapped parts are currently withdrawn from the agreement, and now it is technical and investment issues that restrict CBM development.
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