China to issue second shale gas exploration tender in late Jan

06 January 2012 08:28  [Source: ICIS news]

SINGAPORE (ICIS)--China is planning to launch its second shale gas exploration tender at the end of January, an official from the Ministry of Land and Resources (MLR) said on Friday.

Shale gas is listed as a newly discovered mineral in China, which means the Chinese government and companies can invest in and operate shale gas projects as a separate operation from coal projects, MLR said earlier.

In addition, China will soon unveil its 12th Five-Year Plan (2006-2011) for shale gas development, market sources said.

Sinopec and Henan Coal Bed Methane won the bids in the first shale gas exploration tender issued in June 2011.

Sinopec won a bid to explore shale gas resources at the Nanchuan block in Chongqing municipality and Guizhou province, while Henan Coal Bed Methane won the bid for the Xiushan block in Chongqing, Guizhou and Hunan provinces, according to MRL.

By: Ricky Wang
+65 6780 4359

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