Core Insights - China has discovered a new large-scale deep-layer shale gas field with proven geological reserves of 124.588 billion cubic meters, marking another significant addition to its energy resources [1] - The Yongchuan shale gas field is located in Chongqing and is part of the Sichuan Basin, with a depth exceeding 3,500 meters, indicating a complex geological structure [1] - The overall proven geological reserves of the Yongchuan shale gas field have reached 148.041 billion cubic meters, which is crucial for ensuring national energy security [1][4] Industry Developments - The Southwest Petroleum Bureau plans to steadily advance shale gas development in the southern Sichuan region, focusing on increasing reserve utilization and gas recovery rates [2] - The Southwest Petroleum Bureau is the largest oil and gas production enterprise in the Sichuan Basin, having developed several gas fields and achieving a natural gas production of over 10 billion cubic meters last year [4] - China's natural gas production has been steadily increasing, with a total output of 246.4 billion cubic meters last year, and shale gas contributing over 25 billion cubic meters, accounting for 10% of total natural gas production [4] Resource Potential - China's recoverable shale gas resources are estimated at 21.8 trillion cubic meters, the highest in the world, with a current exploration rate of only 4.79%, indicating significant untapped potential [4] - The discovery of the Yongchuan shale gas field is expected to enhance domestic shale gas production and contribute to resource reserves [4]