China Will Provide Shale Gas Subsidies

Bloomberg reported that China will provide subsidies to shale-gas producers in an effort to support exploration.

As quoted in the market report:

The nation will offer 0.4 yuan (6.4 cents) a cubic meter for shale gas that is developed and consumed from 2012 to 2015, the Ministry of Finance said in a statement on its website today, without providing more details of the plan. The subsidy may be adjusted and local governments may provide additional funds, it said.

To view the whole Bloomberg report, click here.