CHINA'S plan to exploit its shale-gas reserves is gathering momentum. Sinopec is in talks with BP over a possible venture. Pet-roChina and Shell have already entered a development agreement. Little is known of the precise scope of the BP talks, but they are running "smoothly", Sinopec's official newsletter reported last month. "This initiative would help China use advanced foreign concepts and technologies to speed up the development of China's potentially large shale gas reserves," the state-owned People's Daily said.
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