www.chinapage.com/power/oil-gas/turkmenistan-khorgos-pipeline.html
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Construction has begun July 2008 |
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PetroChina, CNODC to inject 16 bln yuan into 50-50 pipeline JV 12.27.07, 6:52 PM ET BEIJING (XFN-ASIA) - PetroChina Co Ltd (SHA 601857; HK 0857) and China National Oil and Gas Exploration and Development Corp (CNODC) have agreed to inject 8 bln yuan each to their 50-50 joint venture, CNPC Exploration and Development Co Ltd (CNPC E&D). CNODC and PetroChina are subsidiaries of the China National Petroleum Corporation (CNPC). According to a statement filed with the Shanghai Stock Exchange, CNPC E&D currently is cooperating with state development companies in Kazakhstan and Uzbekistan to construct a natural gas pipeline for the transmission of natural gas purchased by China from Turkmenistan. For this purpose, CNPC E&D has established a wholly-owned subsidiary, Trans-Asia Gas Pipeline Co Ltd, the platform for undertaking the project. The pipeline, involving total investment of 7.31 bln usd, runs from Gedaim at the border of Turkmenistan and Uzbekistan, through Uzbekistan and Kazakhstan to reaches Khorgos in China. The pipeline's gas transmission capacity is 30 bln cubic meters a year, with an option for increasing it to 40 bln cu m. (1 usd = 7.3 yuan) |
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Oil and Gas Pipelines
