China's Next Shale Auctions by 2013 End

China is likely to open the third round of shale gas tenders as early as end of this year, China Scope Financial reported.

Quoting an official from Ministry of Land and Resources (MLR) China Scope Financial said that regulators are currently developing a new tendering scheme.

Specifically, government departments will fund the earlier stages of shale gas resource exploitation using fiscal revenues, thus reducing the burden of initial investment on industry enterprises, the report said.

Companies will face fewer risks as they will be allowed to repay principals of the initial investments after they achieve profitability. The government will encourage the participation of small- and medium-sized enterprises.