A consortium led by Royal Dutch/Shell Group has reached an agreement to build a huge gas pipeline linking western China with Shanghai, the project's Chinese partner PetroChina Co. said Tuesday.
Shell Investment Consortium, which comprises Shell International Gas, OAO Gazprom, OAO Stroytransgaz and Hong Kong China Gas Co., will hold a 45-percent stake in the 4,000-kilometer (2,400-mile) pipeline, PetroChina said in a statement.
The deal, worth an estimated US$18 billion, includes exploration and extraction of gas in the Tarim Basin of western China's Xinjiang region, as well as the distribution and operation of the pipeline, according to the statement.
(China Daily February 6, 2002)
