CNPC will develop gas reservoirs in Hancheng, Shaanxi

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Author/Source: Shaanxi Daily Date: 2009-4-2 -------------------------------------------------------------------------------- Recently, CNPC Coalbed Methane Co., Ltd. decided to invest 1.581 billion yuan in the development of the coalbed methane project in Hancheng, Shaanxi, over the next two years. This year, 1 billion yuan will be invested to achieve a daily gas supply capacity of 200,000 cubic meters; in addition, projects for the comprehensive utilization of coalbed methane are also under preparation. 　　 Hancheng is an area rich in coalbed methane resources, with proven reserves amounting to 408 billion cubic meters, making it the largest coal gas field in northern Weihe River region, and it holds great potential for development. CNPC Coalbed Methane Co., Ltd. is a coalbed methane company established by CNPC in September 2008, with a capital investment of 1 billion yuan. Once completed, this project will provide clean energy to the Longmen Industrial Zone in Hancheng as well as its urban and rural residents, thereby resolving the environmental issues that have long hindered the development of Hancheng. This year, Hancheng has included coalbed methane development projects among the key initiatives aimed at delivering benefits to the people. It is strengthening various measures and improving the investment environment in order to truly transform this valuable clean resource into a new driving force for development.