China's hopes for shale boom may be fading

Beijing

CHINA'S shale boom may be fizzling out before it even gets going. The nation has cut its output target for the end of the decade to a third of its earlier estimate as difficult geology, lack of infrastructure and limited exploration rights conspire against its shale gas ambitions.

Big gas import deals, a lower oil price and China's commitment to clean energy also weigh on shale's promise.

"It's a reality check for policymakers who've finally realised the shale gas boom may not come as easily as many thought," said Shi Yan, an analyst at UOB-Kay Hian Ltd in Shanghai…