Shale gas production in China reportedly rose by more than five times to 200 million cubic metres last year.
The nation’s daily output of shale gas has exceeded two million cubic metres, with around 30 million cubic metres produced in 2012, according to reports.
The Chinese Government has pledged to accelerate exploration of the unconventional gas with the help of the shale gas development plan up to 2015. It includes the ambitious target of boosting annual shale gas output to 6.5 billion cubic metres by 2015.
The Government aims to offer more favourable policies and subsidies to shale gas developers in the country.
Zhang Yuqing, Deputy Head of the National Energy Administration (NEA) was reported as saying: “We will continue to work closely with other departments to reduce problems regarding to government policies and other regulations reflected in the development of shale gas and create a better environment for shale gas producers.
“Based on what we have achieved now in the shale gas sector, we are very confident to reach our target of shale gas output by 2015.”
Last month Chancellor George Osborne offered to halve tax rates on early profits from shale gas in the UK.