The deal valued at more than US $4 billion comes in addition to an agreement for the joint study of a major shale gas block in China, further signaling growing interest worldwide in the unconventional resource.
An array of challenges stands between China and shale gas development success. But the Chinese government is working to implement a plan to increase shale gas output and reduce reliance on coal.
The lure of shale gas is generating interest around the globe with Saudi Arabia being one of the latest countries to focus on defining its unconventional gas resources.