Last updated at: (Beijing Time) Wednesday, February 06, 2002
PetroChina Starts Segmental Construction of West-East Gas Pipeline
PetroChina, the Hong Kong listed company held by China National Petroleum Corporation, announced Tuesday to kick off segmental construction of the giant West-East Gas Pipeline project.
PetroChina, the Hong Kong listed company held by China National Petroleum Corporation, announced Tuesday to kick off segmental construction of the giant West-East Gas Pipeline project.
The segment of the 4,000-kilometer long pipeline to be constructed first refers to the sections crossing the Yangtze River, the Yellow River and the Huaihe River, and also sections from Jiangsu Province to Shanghai and Lunnan to Korla in the Xinjiang Uygur Autonomous Region.
According to the construction plan released by PetroChina, the company will launch the full-length construction of the pipeline project in the first half of this year. The project's first major section, which extends from Jingbian of Shaanxi Province to Shanghai, will be completed and put into operation in early 2004.
The other section ranging from Lunnan to Jingbian, will be completed in the first half of 2005, which will mark the completion of the whole pipeline project.
China has completed the preparations for the construction of a planned natural gas pipeline that will extend 4,000 kilometers from the west to the east of the country, official sources said.
East China's Jiangsu Province plans to raise capital totaling 20 billion yuan (2.43 billion U.S. dollars) for a 300 km section of the 4,200 km west-east natural gas pipeline under construction.
A senior Chinese official says that China will for the first time allow overseas investors to control shares in pipeline projects for sending natural gas from western part of the country to the east.