Shell Plans to Spend $1 Billion a Year on China Gas
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Royal Dutch Shell Plc will spend $1 billion a year developing China’s unconventional gas reserves, including shale deposits, according to Peter Voser, the company’s chief executive.
Shell has won government approval for its production sharing contract with China National Petroleum Corp., the nation’s biggest oil and gas company, Voser said in an interview in Beijing today. He didn’t specify details for the $1 billion investment.