China Announces Shale-Gas Subsidy
From Energy & Capital
By Swagato Chakravorty
The Chinese government has just announced a subsidy of 0.4 yuan ($0.06) per cubic meter for energy companies developing the country’s shale-gas resources.
The U.S. Energy Information Administration previously estimated that China may indeed have the world’s largest shale-gas reserves, but high startup and development costs have hindered real progress. This new move could jumpstart that.
Key blocks in China’s five-year plan that would normally command costs as high as 300 to 500 million yuan ($48 million to $80 million) could see production costs reduced by as much as 30 percent.
According to the U.S. EIA, China could have as much as 1,275 trillion cubic feet of technically recoverable shale gas, and the country has had its eye on fracking for quite some time. So far, the government has targeted 19 blocks as critical areas for exploration.
The government has a goal of producing 6.5 billion cubic meters of gas per year by 2015 and 60 billion to 100 billion cubic meters by 2020.
Leon Faircloth June 16, 2013 at 4:03 pm
Got my first letter yesterday! Loved it. I feel like I’m a portion of something wonderful that is just starting to materialize. Feeling a strange perception of community around it all. Maybe you’re on to something here! Who would have ever assumed that people today would really print out words on paper just to have it sent with the mail to another person’s mailbox. Next thing you know, peoe will be growing their own food and walking or riding bikes everywhere. It’ll never ever do the job, damn progress.
Recommended Reading June 19, 2013 at 7:22 am
I just found this amazing weblog post and I must say to you thank you very|extremely much for giving this 1 to us.
surrey search engine optimisation June 19, 2013 at 9:13 am
Fantastic information here bud, appreciate it