China May Provide Incentives for Shale Gas Explorers
China's natural resource watchdog is considering preferential fiscal and tax policies to spur the country's shale gas exploitation as part of efforts to optimize the country's energy consumption structure.
Authorities may introduce subsidies and tax breaks for the sector to support its development, Xinhua said in a news report citing an official with the Ministry of Land and Resources (MLR).
The country is scheduled to hold its second shale gas licencing round next month.
Shale gas exploitation has been gathering steam in China as the nation looks for cleaner energy to cut its carbon emissions and fuel economic growth. China will offer 20 shale gas blocks with a total acreage of 20,002 square kilometers in the upcoming auction, sharply up from four blocks in its first auction.