It is reported that Dynamic Energy Holdings a company which produces and sells coal in China plans to cooperate with China Coal Technology and Engineering Group Corporation Xi’an Research Institute to explore for coalbed methane in Pingdingshan, Henan province.

The institute will handle the engineering works for a number of extraction wells. A total of 1,350 extraction wells will be built over two phases for the exploration of coalbed methane in Pingdingshan.

Total investment on the exploration is expected to hit CNY 5 billion.

Dr Wang Ruiyun The co-chairman of Dynamic Energy said coalbed methane is likely to become the fourth-largest source of clean energy and obtain greater support from the government during the 12th Five-Year Plan period.

(Sourced from China Securities Journal)