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China taps shale gas through combined efforts

(Xinhua)

08:12, October 08, 2012

China is exploring an optimized energy structure by tapping into shale gas resources through the joint efforts of local authorities, enterprises and researchers.

The country's second round of auctions for shale gas licenses, which will be held in late October, has elicited substantial interest from more than 70 domestic companies, including Sinopec and PetroChina, the country's two largest oil producers.

The nation will offer 20 shale gas blocks with a total acreage of 20,002 square kilometers in the upcoming auction, according to a statement issued by the Ministry of Land and Resources, or MLR, in early September.

The figures are sharply up from the first auction in 2011, when six companies bid for a total of four blocks.

Analysts said that by 2020, if the nation's shale gas output can reach 60 to 100 billion cubic meters, it would become one of China's primary energy sources.

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