China and the US on Thursday held talks on energy security and future cooperation in shale gas, the China Securities Journal reported Friday, citing an official with China's National Energy Bureau.
Wu Yin, deputy administrator of the NEB, was quoted as saying current international oil prices have had a negative impact on energy security and both sides held discussions on the need for secure energy supplies.
The talks were part of the annual US-China Strategic and Economic Dialogue that started Thursday in Beijing.
The report quoted Wu as saying that both countries agreed to enhance cooperation to significantly progress shale gas resource development and technology, and to strengthen policy coordination to maintain stable oil markets.
Wu also said China and the US, as two of the largest energy producers and consumers in the world, needed to seek common ground for global energy security.
Going forward, both countries will continue to step up exchanges and dialogue to promote cooperation in energy technology, smart grids, renewables and biofuels.
In March Chinese state company PetroChina said US and Chinese experts had completed the first joint evaluation of a shale gas basin onshore China as part of a shale gas cooperation pact between both countries. PetroChina, China's National Energy Administration and the United States Geological Survey evaluated the Liaohe basin in northeastern Liaoning province, assessing about 1,380 square km of shale formations.
The bilateral summit -- the fourth held so far -- was opened by Chinese President Hu Jintao and US Secretary of State Hillary Clinton on Thursday.
