The Song of ‘Fire Ice’: China Claims Revolution in Energy Extraction

As China celebrates its success in extracting natural gas from ‘fire ice’, it’s still unclear whether Beijing has made a significant technological achievement and revolutionized the energy industry. Seeking Energy Security, China, Japan Race to Tap ‘Fire Ice’ Earlier China proudly announced that the country for the first time managed to successfully extract natural gas from methane hydrate deposits located in South China Sea near the delta of the Zhujiang river, and that the amount of extracted natural gas has exceeded all expectations.But while Beijing hailed this accomplishment as a historic breakthrough that ushers a new era in the energy industry, many prominent analysts around the globe regarded the celebration as premature. Igor Yushkov, lead analyst at the National Energy Security Fund, told Sputnik that China’s achievement can be compared to the new technologies developed in the US which made the shale gas extraction economically viable. “And here’s the […]

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