July 3, 2012
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China To Speed Up Shale Gas Exploration

China will accelerate shale gas exploration according to a senior Chinese official on Monday, who called for the country to speed up mass production of shale gas with its own technologies to ensure adequate energy supply.

China's rich reserves of shale gas are estimated to amount to 31 trillion cubic metres, equivalent to the total amount of conventional natural gas.

Efforts must be made to achieve early breakthroughs in the appraisal, exploration and development of shale gas resources, as well as to come up with measures to ensure environmental safety, Liu Tienan, deputy head of the National Development and Reform Commission, said at a meeting.

China has an ambitious national output target of 6.5 billion cubic metres for 2015.

Liu stressed that the shale gas industry should be open to all types of investors. The departments involved should offer tax and fiscal incentives to encourage development.

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