Caixin
Sep 11, 2012 06:56 PM

New Round of Shale Gas Bidding Offers Low Barriers

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(Beijing) – The Ministry of Land and Resources (MLR) said on September 10 that the second round of public bidding for shale gas exploration and drilling rights had started.

The MLR, the National Development and Reform Commission and Ministry of Finance have set an annual shale gas production target of between 60 billion and 100 billion cubic meters by 2020. Investment of up to 600 billion yuan would be required, Industrial Securities, a company in Fuzhou, Fujian Province, estimated.

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