Gas Signs

Domestic gas companies will sign more global cooperation agreements, in a move designed to channel funds and technology in industry China gas. The State Council has revised a regulation, allowing more "designated state" gas companies to create joint ventures with foreign partners jointly explore methane trapped in coal seams.

The revised standard, known as the Regulation on joint oil exploration on land, came into effect on Monday, aiming to boost production of clean fuels. China United Coal-bed Methane Corp (CUCMC) used to be the only gas company are allowed to enter in such firms, based on a 2001 version of the Regulation. "Designated State" gas companies are playing an important role in this project.

"The movement of the gas companies a shot in the arm for the exploration of coal and methane production in China, marking the beginning more funds and advanced technology, "said Huang Shengchu, director of the China Coal Information Institute.

Many gas companies opposed to the monopoly CUCMC abroad financed by the extraction of coal bed methane deposits, said Huang. "With the deregulation of the market, this segment will develop further, "said Huang. CUCMC, however, will remain the market leader with an advantage over potential competitors. companies gas are needed.

"The new regulation on the gas companies will not affect our ongoing projects. And we will continue to leverage new resources around the country this year, "Sun Maoyu, CUCMC general manager, told China Daily. CUCMC remains the only gas company with foreign partners playing coal-bed methane for the time being, since "it takes time for the state to stop new players," Sun said.

"To get more coal-bed methane, the state will provide a few new players in the field to test the water. But our potential gas companies simply do not have large reserves, like us, and it will take time for gas companies to develop, "Sun added. Asia and America Inc and gas companies recently CUCMC won government approval to produce 500 million cubic meters of gas annually in Shanxi Province.

According to statistics from the Information China Coal Institute, China has a reserve of 37 trillion cubic meters of coal-bed methane, the third largest in the world, behind only Russia and Canada and equivalent to 45 billion tons of standard coal. More than 600 wells, coal bed methane have collapsed throughout the country to date, most of them operated by CUCMC and its shareholder China National Petroleum Corporation.

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