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To: Dennis Roth who wrote (160738)	12/27/2011 1:59:45 PM
From: Dennis Roth	3 Recommendations Read Replies (1) of 206181

China reforms shale gas price, pilots new scheme reuters.com China will liberalise well-head prices for shale gas, coal-bed methane and coal gas, its National Development and Reform Commission (NDRC) said on Tuesday. "This is quite a significant step, a change that domestic gas producers have been waiting to see," said Yan Kefeng of Cambridge Energy Research Associates. "It sends a broad signal that the Chinese government wants to liberalise gas prices, which by itself is an incentive to unconventional gas." The United States estimates China's shale gas reserves could be bigger than its own. A revolution in production techniques is overturning U.S. dependence on imported gas. China has yet to begin commercial production, in part because existing pricing mechanisms made doing so unprofitable. The NDRC said on its website www.ndrc.gov.cn, "The eventual goal of China's gas price reform is to liberalise well-head prices and let the market decide the prices. The government only manages the prices of pipeline transmissions."

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