ANNOUNCEMENT 17 Apr 2015
In April 2015, the government of China announced a change in production support.
NUMBER OF INTERVENTIONS
PRC Ministry of Finance, Bureau of Economy Building, April 17th 2015. (关于页岩气开发利用财政补贴政策的通知)
On 17 April 2015, the Ministry of Finance issued Notice No. 112 of 2015. Based on the notice, the current shale gas development and production subsidy will be decreased from 0.065 USD/m3 to 0.049 USD/m3 between 2016 and 2018, then to 0.033 USD/m3 between 2019 and 2020 (0.4 CNY/m3 to 0.3 CNY/m3 between 2016-18; 0.2 CNY/m3 between 2019-20).
The announcement states that further review will occur, and the subsidy's future will be decided based on market conditions.