Luce Energy Proceeds With Governmental Negotiations As China Is To Include Gas Hydrate Exploration in New Five Year Plan

The volume is small compared to other onshore gas discoveries in the country, but it will lessen the country's dependence on imports which are expected to reach 30 billion cu m in 2011. End Quote

(1888PressRelease) May 19, 2011 - According to a report by the Guangzhou Marine Geological Survey published in early 2011, an expedition team conducted drilling in 11 areas containing gas hydrates in the northern part of the South China Sea. It assessed that the area contains an estimated 19.4 billion cubic meters of natural gas reserves.

The volume is small compared to other onshore gas discoveries in the country, but it will lessen the country's dependence on imports which are expected to reach 30 billion cu m in 2011.

Methane gas hydrates are volatile compounds, which are stable in extreme cold and the crushing weight of deepwater. But they become extremely dangerous when they build up inside the drill column of a well. Once hydrates are destabilized by heat or a decrease in pressure, gas hydrates' volume can quickly expand over 150 times.

Every year, the South China Sea is hit by numerous typhoons. Chinese companies operating in the area have had to shut platform operations many times in the past because of strong approaching typhoons.

And in the face of the massive destruction caused by the 9.0 magnitude earthquake and tsunami that struck off the coast of Japan, China is now rethinking its strategy to explore and develop the unconventional resource and are negotiating with several companies that are to help them develop a new exploration process.

Luce Energy's industry leading natural gas experts have been consulted throughout the exploration process and are actively following developments in many projects.

Luce Energy:
Luce Energy was founded in 2007 and today is one of the leading privately held independent energy companies. Luce Energy, its subsidiaries and affiliated entities, engage in oil and gas exploration and production activities mainly in the Middle East region. In addition, Luce Energy is integrally involved in the start-up of major liquefied natural gas projects in Yemen.

Press Information:
Mahmoud Al Alawi
Press Coordinator - Luce Energy
press ( @ ) luceenergy dot com

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