China and its foreign partners expect to sign a final deal for the country’s east-west natural gas pipeline by June this year. China and its partners, including Royal Dutch/Shell Group, ExxonMobil and Gazprom, are putting the last touches to the deal after the signing of a framework accord on the 4000km pipeline last July. Both China and the foreign investors aim to conclude the deal by June. Petrochina aims to finish laying 1485km of pipeline, the east section, by the end of January. Petrochina started construction in September 2001 “The trunk line alone will need 1.6 million tonnes of steel. We have so far procured pipe for 2050 km.” Petrochina plans to complete the western portion of about 2500km from the remote Northwest Tarim basin to Jingbian by the end of 2004. Shell, ExxonMobil and Gazprom will each hold 15% in the pipeline, while Petrochina will own 50% and refining giant Sinopec Corp. will take 5%.
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