China firms' $2bn shale gas hunt
China has stepped up its efforts to explore shale gas reserves as it looks to meet growing energy demand at home.
It has awarded exploration rights on 19 shale gas areas to 16 firms.
The firms have committed to invest 12.8bn yuan ($ 2bn; £1.3bn) to search and develop these areas, or blocks, the Ministry of Land and Resources said.
Demand for energy in China has surged in recent years as its economy has expanded. The country is now the world's biggest energy consumer.
However, China relies heavily on imported power and energy sources, something that makes it susceptible to market and price movements, as well as supply issues.
Beijing has been trying to secure new supplies of energy and according to the ministry's estimates the country has around 25 trillion cubic metres of shale gas reserves.
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