--- SEARCH ---
WEATHER
CHINA
INTERNATIONAL
BUSINESS
CULTURE
GOVERNMENT
SCI-TECH
ENVIRONMENT
LIFE
PEOPLE
TRAVEL
WEEKLY REVIEW
Learning Chinese
Learn to Cook Chinese Dishes
Exchange Rates


Hot Links
China Development Gateway
Chinese Embassies


China, Iran Sign US$20 Billion Gas Deal

A Chinese company has signed a preliminary agreement with Iran to buy US$20 billion worth of liquefied natural gas over 25 years in one of the biggest deals of its kind, a newspaper reported Friday.  

The deal adds to massive Chinese efforts in recent years to secure new energy supplies both at home and abroad to feed its surging economy.

 

The agreement with Iran calls for Zhuhai Zhenrong Corp. to buy 2.5 million metric tons of natural gas annually from Iran beginning in 2008, The Asian Wall Street Journal said.

 

It comes two years after China signed deals worth a total of US$21.5 billion to buy gas from Australia and Indonesia.

 

China is stepping up its use of cleaner natural gas though the country has abundant coal supplies.

 

Public buses and some taxis have been converted to burn liquefied natural gas.

 

A Chinese-led consortium also is building a 3,900-kilometer-long (2,500-mile-long) pipeline to carry gas from the remote northwest Xinjiang Uygur Autonomous Region to Shanghai, the country's commercial capital.

 

Zhenrong also is expected to complete deals soon to develop three Iranian oil fields, the newspaper reported.

 

Zhenrong imported 12.4 million tons of crude oil from Iran last year, according to the newspaper.

 

(China Daily March 20, 2004)

Saudi Arabia, China Sign Natural Gas Deal
Japan, Iran Reportedly Sign Key Oil Deal
West-East Pipeline Starts Commercial Operation
China, Australia Sign Major Natural Gas Supply Agreements
China, Indonesia Sign US$8.5b LNG Contract
Print This Page
|
Email This Page
About Us SiteMap Feedback
Copyright © China Internet Information Center. All Rights Reserved
E-mail: webmaster@china.org.cn Tel: 86-10-68326688