The Zhangjiagang government, the Zhangjiagang Free Trade Zone administrative committee and Oriental Energy signed an agreement to set up a research and production center for shale gas in Zhangjiagang, Jiangsu province, on August 25.
Oriental Energy has made significant efforts to acquire shale gas reserves. The group signed a long-term agreement with enterprises from North America to get necessary resources such as propane, butane and methanol. The group then invested 36 billion yuan ($5.88 billion) to cooperate with domestic enterprises to build a development and manufacturing center for the use of shale gas in 3-5 years.
Advanced techniques will be used at the shale gas center, which will shorten manufacturing process and enhance productivity greatly. The gas is also clean and eco-friendly.
The project will promote the strategic transformation of the Zhangjiagang Free Trade Zone.
