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China may hold 2nd shale gas auction
Source: Bloomberg News |
February 14, 2012, Tuesday
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Print Edition
Print Edition
CHINA, estimated to hold more gas trapped in shale than the United States, may have its second auction of exploration areas as early as this month, an official at the Ministry of Land and Resources said yesterday.
The ministry plans to hold the auction by the end of February or in early March, said Zhang Dawei, vice director of oil and gas research at the ministry. The auction was originally set for the fourth quarter of 2011.
China, yet to produce shale gas commercially, may hold about 31 trillion cubic meters, Xinhua news agency reported, citing Wang Min, vice minister of land, at a conference in Beijing on Sunday.
Chinese reserves may reach 1,275 trillion cubic feet, the US Energy Information Administration said in April. That's almost triple the 482 trillion cubic feet in the US.
The ministry plans to hold the auction by the end of February or in early March, said Zhang Dawei, vice director of oil and gas research at the ministry. The auction was originally set for the fourth quarter of 2011.
China, yet to produce shale gas commercially, may hold about 31 trillion cubic meters, Xinhua news agency reported, citing Wang Min, vice minister of land, at a conference in Beijing on Sunday.
Chinese reserves may reach 1,275 trillion cubic feet, the US Energy Information Administration said in April. That's almost triple the 482 trillion cubic feet in the US.
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