Two years of negotiations came to an end on Monday when PetroChina sent letters of termination to Royal Dutch/Shell, ExxonMobil and Russia's Gazprom.
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Consortium of PetroChina and World Oil Giants Collapsed
PetroChina announced yesterday that the west-east gas pipeline project will be unaffected by the collapse
Chinese oil and gas major PetroChina announced yesterday that the west-east gas pipeline project will be unaffected by the collapse of the planned joint venture between PetroChina and a foreign consortium.
PetroChina has enough funding and technical capability to develop the project of US$14.5-billion worth on its own.
The project includes the development of gas fields in the Xinjiang Uygur Autonomous Region, operation of a 4,000 kilometer pipeline and supplying gas to Shanghai, the nation's economic hub.
Two years of negotiations came to an end on Monday when PetroChina sent letters of termination to Royal Dutch/Shell, ExxonMobil and Russia's Gazprom.
Two years of negotiations came to an end on Monday when PetroChina sent letters of termination to Royal Dutch/Shell, ExxonMobil and Russia's Gazprom.
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