China Daily: Natural gas prices may rise 80% to bolster shale

Natural gas prices in China may rise 80 percent from current levels as the government stimulates domestic production from shale to reduce its energy imports, according to Bank of America Merrill Lynch.

Gas may rise to as much as 2.6 yuan per cubic meter, equivalent to $11.4 per million British thermal units, by 2016 as the government revises its pricing formula for the fuel, Bank of America said in a report e-mailed on Tuesday.  MORE