15th Mar 2016 07:53
LONDON (Alliance News) - Green Dragon Gas Ltd Tuesday said the cash subsidy it is paid for the coalbed methane produced in China has been increased by 50% following the launch of the government's five-year plan.
The central government of China launched a five-year plan for the country which reiterated the importance of coalbed methane gas to the country's domestic energy market, the company said.
That has led to the cash subsidy paid by the government to Green Dragon Gas increasing to USD1.31 per million standard cubic feet of gas produced from the previous subsidy of USD0.87 per million standard cubic feet.
That new subsidy has come into effect from the start of 2016 and will provide additional income for the group, assisting to support the continued development of the group's extensive acreage.
By Joshua Warner; [email protected]; @JoshAlliance
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