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BIZCHINA> Top Biz News
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Flammable ice a hot prospect for future energy
By Wang Qian (China Daily)
Updated: 2009-10-30 08:07 No country has been able to produce the resource commercially due to the challenging conditions of the gas hydrate and the unpredictable environmental impact. So far, China does not have a specific commercial exploration plan, Zhang said. Energy experts told Wenweipo earlier this month that the government will invest more than 1 billion yuan ($146.45 million) to accelerate its exploration and realize commercial production in tundras around 2030. China started gas hydrate research in the late 1990s.
Last month, China confirmed the existence of the resource in Qilian Mountain in Qinghai province, becoming the world's third country to confirm its finding in tundras after the US and Canada. The estimated potential gas hydrate in China's permafrost is about the equivalent of more than 35 billion tons of oil. Gas hydrates have been found in nearly 80 countries and regions and more than 30 countries have begun searching underwater for the resource, with the US and Japan leading the world's marine expedition for gas hydrates. China has pledged more investment in developing alternative energy resources, including biomass fuel, liquefied coal and flammable ice. (For more biz stories, please visit Industries)
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