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Shale gas auction lures bidders
By Richard Fu |
October 25, 2012, Thursday
|
Online Edition
Online Edition
CHINA'S second tender of shale gas blocks attracted 152 qualified bids from 83 companies, the Ministry of Land and Resources said after today's auction.
This is the first time that China allowed private-sector companies and Sino-foreign joint ventures to bid, as the government seeks to tap the cleaner-burning fuel faster.
Twenty sites were offered in the auction, covering a total area of 20,002 square kilometers in provinces including Guizhou, Hunan and Jiangxi. Each bidder can only bid for a maximum of two blocks and each block needs at least three bids for it to proceed.
One block was removed after it failed to receive enough bids, the land ministry said. One site attracted 13 bids, the most, it added.
The ministry said it will announce winners after reviewing the bids, without giving a date.
This is the first time that China allowed private-sector companies and Sino-foreign joint ventures to bid, as the government seeks to tap the cleaner-burning fuel faster.
Twenty sites were offered in the auction, covering a total area of 20,002 square kilometers in provinces including Guizhou, Hunan and Jiangxi. Each bidder can only bid for a maximum of two blocks and each block needs at least three bids for it to proceed.
One block was removed after it failed to receive enough bids, the land ministry said. One site attracted 13 bids, the most, it added.
The ministry said it will announce winners after reviewing the bids, without giving a date.
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