Shale-gas auction
Source: Bloomberg News |
April 28, 2011, Thursday
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Print Edition
Print Edition
CHINA will offer shale-gas blocks to domestic energy companies in an auction next month, said Zhang Dawei, vice director of oil and gas strategy research at the Ministry of Land and Resources.
The government will offer six shale-gas exploration blocks to PetroChina Co, China Petroleum and Chemical Corp, CNOOC Ltd and Shaanxi Yanchang Petroleum Group Co, Zhang said earlier. The government originally planned to open the auction in November. Zhang declined to give further details yesterday when contacted on his mobile phone.
China aims to tap its unconventional gas resources, including gas in shale, to help cut reliance on oil and coal. The country may have 26 trillion cubic meters of shale-gas reserves, more than 10 times its proven holdings of conventional natural gas, Zhang said.
The government will offer six shale-gas exploration blocks to PetroChina Co, China Petroleum and Chemical Corp, CNOOC Ltd and Shaanxi Yanchang Petroleum Group Co, Zhang said earlier. The government originally planned to open the auction in November. Zhang declined to give further details yesterday when contacted on his mobile phone.
China aims to tap its unconventional gas resources, including gas in shale, to help cut reliance on oil and coal. The country may have 26 trillion cubic meters of shale-gas reserves, more than 10 times its proven holdings of conventional natural gas, Zhang said.
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