Latest News:  
Beijing   Cloudy    25 / 15 ℃  City Forecast

English>>China Business

China taps shale gas through combined efforts (4)


08:13, October 08, 2012

Eyeing the future

The nation is now mulling favorable policies, including introducing subsidies and tax breaks for the sector to support its development, an official with the MLR said in late September.

Prior to any specific incentive being rolled out, local governments and individual enterprises have long been preparing to broaden their shares of the fledgling business.

"Both local authorities and companies are reaching out for the future. The returns might be small at the present, but they have formed their goals of development," an energy analyst told Xinhua's Outlook Weekly.

One of the latest moves took place in August in Southwest China's Chongqing municipality, in which the municipal government set itself a shale gas annual output target of 1.3-1.5 billion cubic meters by 2015.

The recoverable reserves of the region are now estimated at 2.05 trillion cubic meters.

Earlier in June, Jiangxi province founded the country's first research institute specializing in shale gas exploitation. The eastern province is also one of the national pioneers in the geological survey and assessment of shale gas reserves.

Domestic companies, including the five State-run energy giants and provincial-level energy firms are also eyeing the future of the shale gas boom, strengthening their cooperation ties with local governments.

Coal-fired thermal power, which accounts for about 70 percent of China's power capacity, has made power companies very susceptible to coal price fluctuations.

The development of the new, alternative energy source could help taper down the coal price hikes, and power companies would have more say in negotiations with their coal suppliers, industry insiders said.

Earlier media reports said China aims to pump 6.5 billion cubic meters of shale gas by 2015, and the commercialization of shale gas production can be expected in the 13th Five-Year Plan period (2016-20).

【1】 【2】 【3】 【4】


Leave your comment0 comments

  1. Name


Selections for you

  1. Chinese weapons arouse discussions

  2. Photos touching you at the first sight

  3. Mounting calls for free access to Wi-Fi

  4. 6 crew detained after HK ship collision

  5. Found new species in submarine of Indonesia

  6. A Close Contact with Whales

Most Popular


  1. Commentary: Unraveling the value mystique
  2. Commentary: Pricing strategies for success
  3. 'Economic war' with Japan unwise
  4. An end to the era of double-digit growth
  5. Human resources need more investment
  6. Japan should know facts rather than rhetoric prevail
  7. Be vigilant against resurgence of militarism in Japan
  8. Easy times gone for foreign firms in China
  9. Noda gov't in hot water as LDP eyes comeback
  10. White paper makes watertight case for Diaoyu claim

What's happening in China

Congestion dogs travelers

  1. HIV sufferers to receive mental counseling
  2. Chinese tourists head overseas during holiday
  3. Foxconn denies workers striking against overtime
  4. Tolls stop on bridge after 1.45b yuan in illegal fees
  5. Half-naked man gnaws woman's face, bites cop

China Features

  1. More chances for Chinese, Canadian businesses
  2. Culture invasion? Starbucks kisses Buddha
  3. Public should enjoy more 'tourism benefits'
  4. Ancient villages face losing their souls
  5. Economic circles key to Sino-Japan relations

PD Online Data

  1. Ministry of Water Resources
  2. Ministry of Railways
  3. People's Bank of China
  4. Ministry of Health
  5. Ministry of Culture