Saturday, December 29, 2007

Gas: China to pour $2 billion into Central Asia gas pipeline

China National Petroleum Corporation (CNPC) is to invest $2.16 billion to fund construction of a planned Central Asia-China natural gas pipeline, CNPC's listed subsidiary PetroChina announced Friday.

CNPC Exploration and Development Company Ltd. (CNPC E&D) would be responsible for building the pipeline expected to pump the natural gas China purchased from Central Asia's Turkmenistan, said the announcement.

PetroChina said in the announcement that CNPC E&D planned to cooperate with two state-owned development companies in Kazakhstan and Uzbekistan to build the pipeline.