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China's largest coalbed methane field hits production milestone

China

China

China

China's largest coalbed methane field hits production milestone

2025-07-26 15:53 Last Updated At:18:37

China's Daji gas field, the country's largest coalbed methane (CBM) project, has exceeded an annual production capacity of 2.5 billion cubic meters, marking a major step in securing domestic natural gas supply, China National Petroleum Corporation (CNPC) announced Saturday.

Situated in north China's Shanxi Province, the Daji gas field is a key national demonstration project for deep CBM extraction. Since its development, output has risen steadily, reaching 1.69 billion cubic meters in 2024.

This year, 37 new wells were brought online, boosting daily production to 6.8 million cubic meters, a 50-percent increase year on year.

"This year, we have made breakthroughs in ultra-long horizontal well drilling technology and large-scale volume fracturing tailored for coalbed methane. These advancements have improved drilling efficiency, reduced costs, and increased per-well production. The average daily output of newly commissioned wells now exceeds 60,000 cubic meters," said Wang Wei, manager of Exploration, Development and Construction Branch of CNPC Coalbed Methane Company.

Unlike conventional gas, CBM is trapped in deep coal seams, requiring specialized extraction methods. The Daji field, with an average depth of 2,130 meters and proven geological reserves of 300 billion cubic meters, is China's first large-scale CBM development project.

"Through integrated geological and engineering efforts, we have rapidly scaled up coalbed methane production from scratch to 2.5 billion cubic meters in just three years. Next, we will accelerate the construction of the country's first coalbed methane demonstration zone, aiming to reach an annual output of 3 billion cubic meters by the end of this year," said Chen Ming, executive deputy manager of Linfen Branch of CNPC Coalbed Methane Company.

China's largest coalbed methane field hits production milestone

China's largest coalbed methane field hits production milestone

China's outstanding aggregate social financing -- the total amount of financing to the real economy -- reached 442.12 trillion yuan (about 63.4 trillion U.S. dollars) as of the end of 2025, up 8.3 percent year on year, central bank data showed on Thursday.

The country's aggregate social financing stood at 35.6 trillion yuan (about 5.1 trillion U.S. dollars) in 2025, up by 3.34 trillion yuan (about 479 billion U.S. dollars) from the year 2024, said the People's Bank of China (PBOC), the country's central bank.

According to the data, the M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 8.5 percent year on year to 340.29 trillion yuan (about 48.8 trillion U.S. dollars) as of the end of December.

In addition, outstanding yuan loans stood at 271.91 trillion yuan (about 39 trillion U.S. dollars) at the end of 2025, up 6.4 percent year on year.

China's aggregate social financing maintains high growth in 2025

China's aggregate social financing maintains high growth in 2025

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