A proposal to set up a pilot shale gas development zone in the southwestern province of Sichuan will be submitted to the Chinese People’s Political Consultative Conference this week, the National Business Daily reported Monday, citing unnamed sources. Under the proposal, 50 billion yuan (US$8.13 billion) will be invested in shale gas development and about 1,000 shale gas wells will be established in the coming years. Sichuan holds about 27.5 trillion cubic meters of shale gas, of which 4.42 trillion cubic meters can be recovered, the highest in China, the report said, citing official data. Wu Xiaobing, senior executive at government-backed Sichuan Energy Industry Investment Group Co. Ltd., said the key to push forward shale gas development in Sichuan is to open up the market, adopt integrated top-level designs and gain support from the central government.
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