Green Dragon revealed Tuesday the cash subsidy it was being paid by the government had increased by 50%, from $0.87 per thousand cubic feet to $1.31 per Mcf.
Green Dragon expects the increase in the state subsidy to provide it with additional income to support the development of its existing acreage.
The increase became effective on 1 January and was announced as part of the government's five-year plan which Green Dragon said reiterated the importance of CBM in China's domestic energy market.
"This
