China Plans Shale Gas Auction in Q4 2011

China plans to hold its second shale-gas block auction in the fourth quarter of this year.

The news came from Zhang Dawei, deputy director of oil and gas strategy research at the Ministry of Land and Resources.  A detailed plan hasn't been finalized yet he continued.

Zhang said that more domestic companies will be invited to participate compared with the first auction.  He did not comment on the possibility of foreign companies, excluded in the first round, participating this time.