The National Energy Administration (NEA) of China has unveiled a 5-year plan to boost its domestic shale gas industry. It is based on five pillars: explore shale gas resources in a reasonable and orderly manner, secure healthy development of the industry, increase natural gas supply, assist energy conservation and emission reduction, and safeguard national energy security. The policy aims to designate shale gas a a strategic emerging industry, provide subsidies for shale gas producers, and encourage provincial governments to subsidize local producers (through tax reductions or exemptions for producers, and customs tariff exemptions for imported equipment).
China is estimated to hold shale gas reserves of 134 trillion cubic meters, of which 25 trillion is recoverable (2012), according to the Ministry of Land and Resources. The US EIA estimates Chinese shale gas reserves at 36 trillion cubic meters.
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