China's Second Shale Auction Results Likely Next Week

The results of China’s second shale gas auction will likely be released next week at the earliest, Morning Whistle has reported citing the Ministry of Land and Resources.

The ministry said that it has received 152 bids for 19 shale gas blocks it offered in the second round of shale gas auctions at the end of October. Eighty-three state-owned and private companies from eight provinces and municipalities submitted bids for the blocks.

China offered 20 shale gas blocks in a second tender, with a total area of 20,002 square kilometres in 8 provinces: Chongqing, Guizhou, Hubei, Hunan, Jiangxi, Zhejiang, Anhui, and Henan.

The tender process was open to both Chinese firms and Chinese-foreign joint ventures. These entities should have a registered capital of more than 300 million yuan.