China sets natural gas development targets (2)

While recognizing the sector's growth potential, the statement noted that the absence of supporting policies, backward logistics, distorted pricing mechanism and lack of key skills were major challenges.

In the statement, the NDRC pledged more measures to guide development in this area.

Regarding the development of shale gas, a variety of unconventional natural gas, China plans to prove 600 billion cubic meters of geological reserves by 2015, with explorable reserves at 200 billion, the statement said, setting the output target of 6.5 billion cubic meters by that time.

The country also vows to "basically complete" the assessment on China's shale gas potentials during the 2011-2015 period and master the key exploration techniques.

Based on statistics from the signed futures contracts, China's annual gas imports would reach around 93.5 billion cubic meters by 2015, the statement said.

The NDRC also said China will add new pipelines spreading 44,000 kilometers during the period.

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