Singapore-China December 31 announced it will spend Yuan 116.6 billion ($18.5 billion) to develop its coalbed methane resources over the next four years and a target to produce 30 billion cubic meters/year of CBM by 2015. China's current CBM resources stand at 36.81 trillion cu m, which is the third highest in the world, and Beijing aims to add 1 tril- lion cu m in new proven CBM reserves during the 12th Five Year Plan period (2011-2015), according to a statement by the National Energy Administration.
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