China Shale Gas Auction Attracts 200 Companies

Chinese government has received interest from more than 200 domestic companies in the second shale gas auction round, China Daily has reported. Deadline for submission for bids expires on May 25.

Domestic companies, including private ones, with registered capital of more than 300 million yuan ($47.3 million) and oil, gas or minerals exploration experience may participate in the auction.

The newspaper said China National Petroleum Corp and Sinopec Group haven't sent applications to the ministry. Foreign companies or joint ventures are not allowed to bid for domestic shale gas blocks.

China, which is estimated to have 886 trillion cubic feet of natural gas deposits, the world's biggest, held its first shale gas auction in June for six selected state-owned companies.