Ulan Bator – Mongolia has a huge potential in nontraditional energy resources, such as oil shale and methane, Prime Minister Norovyn Altankhuyag told an international investment conference on Wednesday.

“Recently, a new reserve of coal bed methane gas was discovered and the chemical compound of the methane is the same as Russian natural gas,” Altankhuyag pointed out.

Altankhuyag said Mongolia has a favorable legal environment for the energy sector and the government supports contractors in research, extraction and processing phases through exemption of value-added tax and customs tax. Source: Xinhua