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IFC to invest in Chinese coalbed methane project

09/03/2007
World Bank division International Finance Corp. has agreed to invest $15 million to help a Houston overseas producer develop coalbed methane resources in China. Far East Energy Corp. will use the money to help fund exploration and development of more than 5,000 sq km of deposits in the Shanxi and Yunnan provinces, IFC said on Aug. 28.“Given China’s significant coalbed methane resources, this investment has the potential to help the country meet its growing energy needs by using domestic resources in an environmentally conscious manner,” said Somit Varma, IFC’s director for oil, gas, mining, and chemicals (OGJ, Sept. 18, 2006, p. 30).He noted that Far East Energy is...
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