China to Put Up More Shale Blocks for Exploration

China will offer more shale gas blocks for exploration, the country's land watchdog said on Monday, China Daily reported.

Although no timetable has been disclosed, Peng Qiming, director of the geological exploration department at the Ministry of Land and Resources, said the country will continue to open the shale gas market.

"We welcome all kinds of participants, such as private and joint ventures, to join in shale gas exploration," Peng said at a news conference on the results of the country's second shale gas tender.

About 16 companies, two of them private ones, won bids for 19 shale gas blocks, covering about 20,000 square kilometers, the ministry said. But no foreign-funded joint ventures won the bids.

"We are drawing up regulations and policies to regulate and encourage the shale gas market," Peng said.

The ministry estimated that China has the world's largest shale gas reserves, with about 36 trillion cu m of recoverable gas.