Round two for China shale 'in July'

On the starting block: Second shale round in China set for launch

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Bill Lehane

 29 June 2012 09:05 GMT

China is reportedly planning to hold its second shale gas auction next month, with 70 contenders already vying to qualify for bidding as private Chinese investors are allowed to bid for the first time.

Zhang Dawei, head of oil and gas strategy at the Ministry of Land and Resources, told Shanghai Securities News that a third of the 70 companies who had applied were private businesses, Xinhua news agency has reported.

The ministry announced in May that it would allow Chinese-owned companies registered in China with a minimum registered capital of 300 million yuan to take part in the competition.

In addition, bidders must have exploration credentials or have partnerships with companies with such expertise, the ministry said.

Liu Tienan, the head of the National Energy Administration, has…

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