Wednesday, September 15, 2010

Shell (NYSE:RDS-A) May Invest $1 Billion Annually in China

Royal Dutch Shell (NYSE:RDS-A) CFO Simon Henry said in an interview with Bloomberg that they could invest $1 billion annually in China to get their commercial gas production operational.

Henry said, "With successful exploration, we could easily invest $1 billion a year in the following five to seven years. The geology could be as attractive as the U.S."

In the report, Henry was cited as saying earlier in the year that China's share of gas for use in the country should increase to 10 percent within the next 10 years.

Now natural gas accounts for four percent of energy consumption in the middle kingdom.

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