Alles über Gas in China - 500 Beiträge pro Seite

[asiate]

Hey

da scheint sich ja einiges zu bewegen. Vielleicht könnten wir mal hier Infos sammlen, unabhängig was Hikari Tsushin nun veranstaltet

Xinao Gas erhält Großauftrag


Hong Kong Xinao Gas hat einen Großauftrag über die Lieferung von Erdgas in die Region Haian und Huaian Stadt zugesprochen bekommen. Bei dem Großauftrag handelt es sich darüber hinaus über einen 30 Jahresvertrag, welcher besagt, dass das Unternehmen das alleinige Recht besitzt, diese Region mit Erdgas zu beliefern. Xinao Gas wird dafür 1,7 Mio. US Dollar investieren. In der Region Haian sind über 1.800 Industrieunternehmen ansässig. (rh)

aus http://www.asia-economy.de


Hongkong & China Gas investiert



Hong Kong & China Gas-Co Ltd. (Towngas) investiert 30 Mill. US-$ in ein Erdgasnetz in Nantong in der Provinz Jiangsu. Dabei kommt es zu einem JV zwischene Towngas und Nantong Gas General Co. bei dem jede Holding 50 % hält. Das Netz benutzt das Erdgas, das durch die 4.200 Kilometer lange Xinjiang-Shanghai Erdgasrohrleitung geliefert wird. Die Arbeit für das Projekt soll Ende diesen Jahres oder Anfang 2003 beginnen. Nantong Gas-General wird dann den Service und Netz als Investition nutzen während Towngas das Bargeld investiert. Der Joint-Venture Vertrag wird am Freitag geschlossen.

aus http://www.stock-select.de


Bis dann

[sittin bull inv]

Gute Idee!


Hier, auch wenn ich den schon im anderen Pfad gepostet habe,
ein Artikel der grundsätzlich über die neue Gaseuphorie schwadroniert...


*****************************************************


Thursday May 30, 12:38 PM

Asian Stock Focus: Are Burbling China Gas
Cos A Bubble?

By Chan Ka Sing

Of DOW JINES
NEWSWIRES

HONG KONG (Dow
Jones)--Spectacular share
price increases and a flurry
of unexpected newcomers
rushing into the mainland
natural gas sector have
resurrected unpleasant
memories of the Internet
frenzy a few years ago.

Another investment bubble
gurgling down the pipeline? Not yet, say analysts who are still piping up with buy
calls on these non-state-owned, small cap stocks operating in China`s
underdeveloped gas distribution market.

The key to picking a winner is to identify companies with a strong presence and
management, analysts suggest. Wah Sang Gas Holdings Ltd. (H.WSG) and
Xinao Gas Holdings Ltd. (Q.XGH) stand out.

As of Wednesday`s close, shares in Wah Sang and Xinao - two of the early
movers which pipe gas to smaller mainland cities - have risen 70% and 42%
respectively since the start of 2002.

"The market may need to take some time to digest the recent gains as some fund
managers have to take profit after making a 50% return," said Yang Liu,
managing director of Atlantis Investment Management`s China fund.

"But I believe the sector (gas distributors) should still have three-to-five years`
good time to run," said Liu.

Opportunity always brings risk. Market observers aren`t slow to point out the
investment risks of these new market darlings, such as their heavy reliance on
connection fees and frequent needs to raise funds for capital-intensive network
construction.

Optimism in China`s massive but underdeveloped downstream natural gas market,
however, still runs like a freight train.

While large cities are served by unprofitable state-owned piped-gas operators,
which survive thanks only to fiscal subsidies, penetration rates are low in the
mainland`s smaller cities where most households make do with bottled gas or
coal.

"I`m still bullish on the sector. What we`ve seen is a very low penetration rate and
the government`s strong support to substitute coal consumption with clean energy
like natural gas," said Harry Yau, an analyst at DBS Vickers.

Charles Choi, an executive director at Wah Sang, said the company has set a
firm target on these small regional cities.

"According to our estimation, there are 660 cities and 1,500 counties in China that
could be our potential market," said Choi.

Many Competitors But Huge Market Out There

That massive but mostly unoccupied market space is attracting a long list of new
competitors.

Electronics firm NewOcean Green Energy Holdings Ltd. (H.NOG), fuel
transportation firm Geomaxima (Hong Kong) Holdings Ltd. (H.GMH) and others
are all diversifying their core business into this popular investment.

Internet investor Hikari Tsushin International Ltd. (H.HKT) is going as far as
abandoning its fiber-optic network for a steel and concrete one, planning to
rename itself "China City Natural Gas Holdings."

If this isn`t enough, Hutchison Whampoa Ltd. (H.HUW), controlled by Li Ka
Sing, perhaps the canniest of all of Asia`s tycoons, has also jumped on the gas
wagon. The conglomerate has invested HK$150 million in Hikari Tsushin and
HK$250 million in Panva Gas Holdings Ltd. (Q.PGH).

"We think investors might be asking themselves, why does it seem there are so
many gas utilities all of a sudden? Our answer is that we perceive a `revolution in
the kitchen` going on in China. We see nothing strange about that, nor do we see
a bubble," said Joe Zhang, UBS Warburg`s head of China research in a report
issued last Thursday.

Zhang has a "Strong Buy" recommendation on Wah Sang with a HK$1.40
12-month target price, implying another 18% upside compared to the company`s
HK$1.19 closing price Wednesday.

More new gas utilities could yet come to the stock market, investment bankers
suggested.

"Many institutional investors are still keen on this sector. I believe there could be
a number of new listings in the sector in the near future," said Jeffrey Chan, a
director at Patron Oriental Asia, who sponsored Wah Sang`s listing on the
Growth Enterprise Market two years ago.

Analysts suggest that preference should be given to piped-gas distributors who
have already secured a strong presence in their markets.

Presently, Wah Sang and Xinao are two of the biggest players among these
non-state-owned gas distributors. Wah Sang now has 30-to-50-year exclusive
rights to operate in 30 mainland cities while Xinao has secured 21.

"I like Xinao Gas a lot. This is a pure city-gas developer well-positioned on
expanding its geographic coverage," said David Yip, regional utilities analyst at
HSBC Securities.

In a sector where players are seeking rapid geographical expansion by either
winning municipal government contracts or acquiring existing players, Chan with
Patron Oriental suggested management will become the decisive factor.

"The most important issue now is whether these gas distributors can manage their
rapidly expanding operations," Chan said.

Atlantis Investment`s fund manager Liu agrees.

"The biggest risk is management risk. As I`ve said earlier, there isn`t a bad sector
in China, but there are bad companies," said Liu.

-By Chan Ka Sing, Dow Jones Newswires; 852-2832-2342;
[e-mail]




http://asia.news.yahoo.com/020530/5/azi9.html

[NOBODY_III]

China dreams of trans-national gas pipeline
By John Schauble in Korla, Xinjiang
June 11 2002




Way out west, out Mongolia way ... laying pipes on the 200km test line. Temperatures regularly go above 40C.


It is China`s pipedream: a 4250 kilometre, $40 billion gas pipeline that will carry gas from the far west of Xinjiang in Central Asia to the industrial centres on the east coast.

Piping natural gas from the harsh desert of the Tarim Basin to Shanghai is a massive undertaking and the economics still look a little shaky. But the Central Government has decreed that the west-east pipeline will go ahead and this is still a country where what the Government says goes.

The pipeline is a centrepiece of the Government`s western development plan. Out in the desert, in temperatures reaching the mid-40s degrees Celsius, workers have almost completed 200 km of test pipeline, which will serve as a pilot project for the thousands of kilometres due to be built by the end of 2004.

Lack of readily extractable oil and gas resources has already compelled China to look overseas for guaranteed supplies. An Australian consortium led by Australian LNG Pty Ltd is one of three short-listed bidders for a 25-year contract to supply $750 million worth of liquefied natural gas annually to a Guangdong terminal.

But China, which is trying to reduce its dependency on heavily polluting fuels such as coal and oil, is also looking to exploit its own resources. These tend to be remote from the centres of population and industry but, even more critically, are often difficult to extract.


Sun Longde, vice president of PetroChina`s Tarim Oilfield Co, says there are gas reserves of 28.4 billion cubic metres under the Taklimakan Desert spread across three major fields, enough to guarantee supply for 30 years.

"The Tarim field has abundant reserves of oil and gas," Mr Sun told visiting foreign reporters recently. He conceded that there were difficulties in extracting the resources because of the geology of the region.

"All of this has made it more difficult for us to get the oil and gas in the Tarim field out because the reserves are very deep," he said. "But the returns are still very high."

Mr Sun said it would take just six to nine years to recoup the investment in the pipeline that will bisect almost the entire Chinese mainland.

PetroChina, the nation`s largest oil company and now listed on the Hong Kong stock exchange, will put up about half the capital. Sinopec, the next biggest domestic oil company, will put up 5 per cent. The remainder is expected to come from a consortium of foreign investors led by the Royal Dutch/Shell Group, still negotiating their involvement in the project.

Peter de Wit, director of Shell Gas & Power`s Asia-Pacific operations, said in Brunei recently that the company remained committed to the project.

Some analysts suggest the cost of gas delivered more than 4000 km will make the end product prohibitively expensive. For the moment, natural gas accounts for just 2.5 per cent of energy use, compared to almost 70 per cent from coal - which is both abundant and cheap, as well as closer to the populous eastern seaboard. China hopes to increase gas use to 10 per cent by 2010.

But the Government can virtually guarantee a core of customers at the other end of the gas pipeline, such as state-run power stations, even if it means further underwriting the cost of production.

One issue of concern remains security. The Tarim field lies deep within Xinjiang, close to China`s borders with Pakistan, Afghanistan and the Central Asian former Soviet republics. China itself has concerns about the activities of separatists who challenge Beijing`s rule over the ethnic Uighur population in a region once known as East Turkestan.

"We don`t have to worry about the safety and security of the pipeline," said Zhang Zhiheng, Communist Party secretary of the Bayangol Mongolian Autonomous Region, where the pipeline will start its journey to Shanghai.

The pipeline is being sunk underground to escape both the extreme climatic conditions and its potential as a target for terrorist attack. But the chances of interference were slight, said PetroChina`s Mr Sun. "In the past 10 years there were no serious cases of sabotage," he said.

For Bayangol, centred on the city of Korla, the project promises rapid growth and jobs, although migrant workers from other parts of China are undertaking much of the construction work. PetroChina says up to 30 per cent of the workforce is made up of local ethnic minorities. Most appear to be confined to unskilled jobs.

Activists in the US recently lobbied ExxonMobil, a potential consortium partner of Shell, against involvement in the project because it will help the Chinese Government consolidate control over "Uighur lands" and because Exxon involvement would provide investment capital for PetroChina`s exploitation of the fields.

At a state-of-the-art gas and oil distillate producing facility at Yaha not one of the 82 employees is an Uighur. This is more of a reflection on government policies over the past half century that have made it difficult for Uighurs to gain sufficient education to provide the skills needed.

The field came online last November but until the pipeline is built it is extracting oil concentrate and returning the bulk of the gas underground.


Quelle: The Sydney Morning Herald

[asiate]

Hey

Hongkong & China Gas, +0,5 %, befindet sich in abschließenden Verhandlungen über 10 bis 20 Gasprojekten in chinesischen Städten. Mit Taizhou City Gas wurde ein JV geschlossen und gibt HK & China Gas das Exklusivrecht Taizhou für die nächsten 50 Jahre zu beliefern. Auch im Immo.-Bereich will man mit Henderson Land in Kwa Wan investieren. Hai Xia, -3,4 %, gründet mit Hai Xia Finance hld. ein 41 / 59 JV für Investitionen in Erdgasobjekte in verschiedenen Distrikten.
- ftor Morgenbericht -

==========================================================

Chinas Energie-Industrie boomt

Seit neuestem boomt „Stromerzeugung durch Abfälle“ in den chinesischen Städten. Meldungen zufolge sind in Shenzhen, Zhuhai und Ningbo Abfall-Kraftwerke errichtet worden. Auch in mehr als 10 weiteren Städten, darunter Shanghai, Beijing und Guangzhou, werden zur Zeit Abfall-Kraftwerke gebaut.

Stromerzeugung durch Verbrennung von Abfällen ist eine besondere technische Methode, die sich durch ein hohes Unschädlichkeitsniveau, vollständige Verhütung von Umweltverschmutzung und Wirtschaftsprofit auszeichnet.

In großen und mittleren Städten Chinas werden zur Zeit jährlich rund 100 Millionen jährlich Tonnen Abfälle produziert. Der meiste Müll wird ohne jede Bearbeitung in den Vorstädten abgelagert und schadet damit der Umwelt.

Auf der anderen Seite im Qinghai-Erdölfeld im westchinesischen Qaidam-Becken wurden im vergangenen Jahr über 2,1 Mio. Tonnen Erdöl und mehr als 580 Mio. Kubikmeter Erdgas gefördert.

Dies waren die größten Fördermengen in diesem Gebiet in den letzten 40 Jahren.

Die Erdölvorkommen im Qaidam-Becken werden auf über 2,2 Mrd. Tonnen geschätzt, außerdem lagern dort mindestens 2 Billionen Kubikmeter Erdgas.

Die Fördermengen waren in den letzten 10 Jahren im Durchschnitt um 10 Prozent jährlich erhöht worden.
Quelle: china.org 07.01.02




Planentwurf für Erdgas-Pipeline von West- nach Ostchina weitgehend bestätigt

Die Konzeption für den Bau einer Erdgas-Pipeline von West- nach Ostchina ist inzwischen von Experten geprüft und weitgehend bestätigt worden.

Durch die fast 3900 km lange Pipeline soll Erdgas von den Fördergebieten im Westen in die entwickelten Gebiete im Osten Chinas transportiert werden. Der Bau der Erdgasleitung ist wegen der vielfältigen Geländeformationen und höchst unterschiedlicher geologischer Beschaffenheit eine technische Herausforderung für Konstrukteure und Techniker.

Seit April 2001 hatten über 300 Experten aus 15 Fachgebieten an der technischen Konzeption des Projekts mitgewirkt.
Quelle: China.org 04.04.02



Zweite Gaspipeline nach Beijing

Berichten der "Beijing Daily" zufolge, wird in Kürze mit dem Bau einer zweiten Pipeline für die Leitung von Erdgas von den Provinzen Shaanxi und Gansu und dem Autonomen Gebiet Ningxia der Hui-Nationalität in Nordwestchina nach Beijing begonnen.

Laut "Beijing Daily" vom Montag, wird mit Projektabschluss im Jahr 2004 Beijing jährlich mit 3 Milliarden Kubikmeter Gas versorgt.

Mit der Gasmenge der ersten Pipeline wird die Menge an Erdgas, die Beijing jährlich bereitsteht, auf 5 Milliarden Kubikmeter ansteigen.

Die Gasvorräte können mit der schnellen Entwicklung Beijings in den letzten Jahren nicht mithalten. Jedes Jahr warten viele Familien auf einen Gasanschluss.

Im Grenzgebiet Shaanxi-Gansu-Ningxia werden schätzungsweise 400 Milliarden Kubikmeter Erdgas produziert.

Im Gebiet Dazhangtuo in Tianjin wird ein Gasspeicher gebaut, der im Sommer für Spitzenauslastungszeiten während des Winters zusätzliches Gas speichert.
Quelle: China.org 29.04.02


Erkundung von Erdöllagerstätten im Ausland vorantreiben

Durch die wachsende Anspannung auf dem Weltmarkt für Erdöl will China neben der Forschung nach Erdöl im Inland auch die Erkundung von Erdöllagerstätten im Ausland vorantreiben.

Wie der Minister für Bodenressourcen Tian Fengshan vor kurzem in Beijing mitteilte, hat die Chinesische Erdölgesellschaft neue Ölförderstätten im Sudan und in Venezuela erschlossen und neue Verträge über eine Zusammenarbeit bei der Erdölerkundung mit Rußland und Indonesien unterzeichnet. Derzeit wird über weitere Projekte der internationalen Zusammenarbeit beraten.

Der Jahresverbrauch an Erdöl und Erdgas pro Kopf lag in China weiter unter dem Weltdurchschnitt. Die inländische Nachfrage kann aber durch die einheimische Erdölförderung nicht mehr gedeckt werden. So wurden im vergangenen Jahr über 65 Millionen Tonnen Erdöl importiert. Das entspricht einem Anteil von rund 30 Prozent der inländischen Nachfrage.
Quelle: China.org 24.04.02


aus - http://www.stock-select.de


Bis dann

[NOBODY_III]

Dass Shell bei Petrochina einsteigen will, verhilft der Aktie zu einem Plus von 1,7 % und unter den Top 10 gehandelten Aktien mit 69,6 Mill.

Quelle: aus Märkte Asien (www.stock-select.de)

[asiate]

Hey

Die Gas-Werte alle im grünen Bereich. Am kräftigsten geht es mit 6 % bei Hai Xia zur Sache. Wah Sang Gas mit 4,8 % ebenfalls kräftig dabei. Im Öl-Bereich verliert Petrochina zwar um 1,1 % auf 1,73 HK-$, hatte aber im Sitzungsverlauf mit 1,76 HK-$ ein neues 52-Wochen-Hoch makiert.

aus dem Morgenbericht von stock-select.de


Bis dann

[asiate]

Hey

Das Gasunternehmen Hai Xia hat sich bei einem Stand von 1,39 HK-$ vom Handel aussetzen lassen. Es geht um die Bekanntgabe von Investitionstätigkeiten in Erdgaprojekte.

South China Research gibt dem Unternehmen CNOOC ein "Hold".

Die Analysten der UBS Warburg haben die Aktie der Hong Kong & China Gas von Reduzieren zum Halten heraufgestuft. Die UBS Warburg hat sein 12 Monate Kursziel auf 11,05 HK Dollar gesetzt. Aktuell notiert die Aktie auf 10,80 HK-$.


aus - stock-select.de

Bis dann

[asiate]

Hey

hat Rhum zwar schon in einem anderen thread, aber passt hier super hin

http://www.insidestoxx.de/html/hk.pdf

Bis dann

[asiate]

Hey


Wah Sang Gas verdoppelt Nettogewinn

Hong Kong Das Energieunternehmen Wah Sang Gas Holdings Ltd hat in seinem Gesamtjahresergebnis 2001 bis März 2002 bei stark steigendem Umsatz (443,1 Mio. HK Dollar vs. 210,3 Mio. HK Dollar) seinen Nettogewinn von 67,2 Mio. HK Dollar auf 141 Mio. HK Dollar mehr als verdoppelt. Der Gewinn pro Aktie ist gegenüber dem Vorjahr von 3,48 Cents auf 6,93 Cents gewachsen. Wah Sang Gas schüttet eine Dividende pro Aktie von 1,0 Cents aus. Im Vorjahr wurde keine Dividende ausgeschüttet. (rh)

aus - http://www.asia-economy.de



Hai Xia mit 3 JV´s


Am vergangenem Freitag ließ sich Hai Xia ( 0384 ) wegen Ankündigung kursrelevanter Informationen vom Handel aussetzen. Heute wurde bekannt gegeben, das man in drei Joint -Ventures einsteigt. Das über die Tochter China Gas Dev.Group, an welcher das Unternehmen 49 % hält,
1. JV findet auf der Insel Samoa statt. Hier ist in der Provinz Hubei ein 50 Jahre laufendes JV mit der Provinzregierung geschlossen worden. 85 % hält Hai Xia und 15 % die Regierung. Es geht um den Bau einer Galsleitung und die dann erfolgende Belieferung. Investvolumen ca. 150 Mill. Yuan.
2. JV wurde mit Chity Natural Gas Co. Ltd. über 28 Jahre geschlossen. 90 % Hai Xia und 10 % hält Yichang. Invest-Volumen 180 Mill. Yuan.
3. JV in Shian City. Dieser Vertrag umfaßt eine Laufzeit von 25 Jahren. Details werden erst noch erarbeitet. Hai Xia wird minsestens 50 % halten. Invest-Volumen ist noch nicht bekannt.
- ftor -

aus - http://www.stock-select.de

Bis dann

[Raider2000]

@asiate

ja, ich denke WahSang Gas (938031) könnte in Zukunft ne richtig gute Entwicklung nehmen. Die guten Zahlen sind ja die beste Bestätigung. Bin mal auf die zukünftige Entwicklung (im gesamten asiatischen Gasmarkt) gespannt. Da kann man bestimmt noch die ein oder andere Perle einsammeln.

[asiate]

Hey

@Raider

aber heute - heul - gehts echt hart zu. Ist ja grausam was dort abspielt, so was von satte Minuszeichen

Bis dann

[Raider2000]

@asiate

kein Problem, ich bin von WahSang Gas absolut überzeugt, natürlich auf Sicht von 2 - 5 Jahren. Der Markt entwickelt sich ja erst..
ich hab mich die letzten Wochen mit einigen Stücken eingedeckt. Auch die ganzen positiven Analysten-Statements sprechen absolut für sich!

[asiate]

Hey

Neue JV´s


Hai Xia gab bekannt, das seine 3 JV´s ( wie beschrieben ) ein Gesamtvolumen von 408 Mill. Yuan hat. Es sind bis zu 8 neue Gasprojekte in China geplant.


Xina Gas gab bekannt, Verträge mit einer Laufzeit von 30 Jahren für Anji Country und Chuzhou City, unterzeichnet zu haben. Xinao Gas hält in beiden Fällen 90 % an den JV´s.
- ftor -

Story Filed: Wednesday, June 19, 2002 3:17 AM EST

BEIJING, Jun 19, 2002 (Xinhua via COMTEX) -- China announced on Wednesday to invest 820 million yuan (98.8 million U.S. dollars) in a drive to promote high technologies for developing Bohai Sea oilfields.

The Ministry of Science and Technology, China National Petrochemical Corporation and China National Offshore Oil Corporation here Wednesday signed an agreement on the project, which is on the list of the state`s high technology improvement program initiated in March 1986.

According to the plan, by the end of 2005, a total of 500 million tons of oil reserves should be found, annual oil production from oilfields under the sea will reach 21 million tons of crude oil and the recovery rate is expected to increase by one to five percent.

Vice Minister of Science and Technology Li Xueyong said that the country attached great importance to developing energy resources.

He Shenghou, leading scientist with the research group, said that his fellow researchers would focus on precise exploration technology, advanced drilling technology, recovery improvement technology and engineering security technology.

The researchers are expected to develop a series of new techniques and equipment, 60 to 80 patents and software copyrights, and two to three high-tech bases for offshore oilfields, he said.

According to the experts, the Bohai Sea has total reserves of 9. 7 billion tons of oil and gas. The annual oil production in 2001 in the region reached only 5.6 million tons.
Quelle: XINHUA NEWS AGENCY.


aus - stock-select.de


Bis dann

[ElectricTip]

chinaoilweb
(2002.6.22)
China Develops New Gas Field in Beibu Gulf

China is developing a new gas field in the Yinggehai waters of the Beibu Gulf, South China Sea.
Dongfang 1-1 gas field, 113 km from Dongfang City on the west coast of Hainan Island, is to be independently developed by China Offshore Oil Corporation.

According to corporate sources, gas reserves in the region are estimated at 96.68 billion cubic meters. On completion, the field will produce 2.4 billion cubic meters a year.
The field will be developed in two stages. During the first phase, two platforms, D and E, will be erected and 12 wells sunk, said corporate sources.
In the second stage, workers will install two more platforms, A and B, and sink another ten wells. Two seabed pipelines, one seabed cable, as well as one land terminal will also be built.
Total investment for the project is estimated at 3.27 billion yuan (394 million U.S. dollars), said the corporate sources. Gas from the project will be channeled to supply a local chemical fertilizer project in Hainan Province, a power plant in Yangpu in Hainan and Haikou City, the provincial capital, for enery production and domestic use.

----------------------------------------------------------------------------------


chinaoilweb
(2002.6.24)
West-east pipline in sight

After repeated postponements, the joint venture between PetroChina and Royal/Dutch Shell to build a US$5.6 billion west-east gas pipeline is likely to become a reality by the end of this month, a senior industry official said.
"Principal terms (of the joint venture) have been settled," said the official. "Only technical problems remain to be discussed."

The joint venture aims to build a 3,900-kilometre pipeline to transport natural gas from Northwest China`s Xinjiang Uygur Autonomous Region to Shanghai on the coast. Construction had been slated to start last October, but was put off due to prolonged negotiations between PetroChina and a consortium of foreign companies led by Shell.

The official declined to comment on a report from the Dow Jones Newswire that the two parties will sign the joint-venture contract on July 1, a red-letter day marking the 81st anniversary of the founding of the Chinese Communist Party.

The report also quotes an unidentified PetroChina official as saying that construction will start on July 3.

"The talks are drawing toward an end," said the official. "But we will not give a definite date."

He said the talks were difficult, partly because foreign partners in the consortium had to take time to negotiate interest sharing amongst themselves.

Last December, PetroChina preliminarily agreed to allow the Shell-led consortium to own a 45 per cent stake in the project, including gas field development, pipeline construction, and gas marketing.

The consortium originally comprised Shell, the world`s largest gas producer Russia`s Gazprom, Stroytransgaz and Hong Kong & China Gas.

The official confirmed that ExxonMobil, together with Hong Kong`s CLP Holdings, is set to take a share in Shell`s 45 per cent stake. But he ruled out the possibility of more foreign companies participating in the project, the People`s Republic of China`s second largest since its founding in 1949. The Three Gorges Dam project is the largest.

"Six companies are all that will join in," the official said.

Earlier reports said Malaysia`s state-owned oil company Petronas wants to take part, even after BP, its former partner in a bid for a stake in the project, withdrew.

Without signing the agreement for the joint venture, PetroChina has started trial construction at a few pipeline locations in an attempt to meet the production target of early 2004.

The pipeline will be able to transport 12 billion cubic metres of gas annually for 20 years, and is seen as the flagship project to anchor China`s drive to develop its resource-rich, but economically backward western regions.

The project is also the backbone of the government`s policy to encourage gas consumption to alleviate the country`s heavy reliance on oil imports and to protect the environment in affluent coastal areas.

The government`s goal is to raise natural gas consumption to 10 per cent of the energy mix from the current 2.1 per cent over the next 10 years.

[realsucker]

jumpingjackflash is a Gas, gas, gas...

[NOBODY_III]

Kreise: Shell und PetroChina unterzeichen bald Rahmenvertrag für Pipeline

Das Konsortium unter der Führung von Royal Dutch/Shell wird voraussichtlich in der kommenden Woche die langerwartete Rahmenvereinbarung mit der PetroChina für die geplante Ost-West-Pipeline unterzeichnen. Das erfuhr die Nachrichtenagentur AFX News am Donnerstag aus Unternehmenskreisen von PetroChina.

Nach Informationen von Shell China sind die Verhandlungen allerdings noch im Gange. Einen genauen Termin wollte Kommunikationschef Nick Wood nicht nennen.

Das Shell-Konsortium hatte im vergangenen Dezember nur einen Interims-Vertrag über den Bau der Pipeline abgeschlossen. Shell will sich demnach mit 45 Prozent an dem Projekt beteiligen. Die 4.000 Kilometer lange Pipeline soll quer durch das Land von der autonomen Region Xinjiang im Nordwesten des Landes bis in den Osten nach Shanghai führen. Der Bau der Pipeline wird nach aktuellen Berechungen rund 5,6 Milliarden US-Dollar kosten.

Der Rahmenvertrag muss nach der Unterzeichnung noch von den Behörden abgesegnet werden. Anschließend müssen noch die finanziellen Aspekte ausgehandelt werden./FX/tv/sh



27.06.2002 - 17:26
Quelle: dpa-AFX

[ElectricTip]

Shell, Exxon, Gazprom to split China gas pipeline

BEIJING, July 1 (Reuters) - Oil giants Royal/Dutch Shell (London:SHEL.L - News), ExxonMobil (NYSE:XOM - News) and Gazprom (GAZP.MO) have agreed to each hold 15 percent stakes in China`s proposed $20 billion natural gas pipeline project, company officials said on Monday.


The firms signed a memorandum of understanding that said for the first time ExxonMobil would join the Shell-led consortium hoping to join China`s PetroChina on the huge West-East pipeline, company officials said.

Signed on Saturday in Beijing, the deal agreed the three companies would split evenly the 45-percent stake expected to be granted to PetroChina`s foreign partners.

"We signed the MOU as partners of equal status," a ExxonMobil spokeswoman told Reuters.

The three giants would talk with PetroChina (HKSE:0857.HK - News; NYSE:PTR - News) about signing a framwork agreement to set up joint ventures for the 4,000 km (2,500 mile) pipeline, officials said.

"Under the MOU, the three companies will jointly proceed with discussions with PetroChina," said Shell spokesman Nick Wood. "We`ve been in discussions with PetroChina further on the project to develop a joint venture framework."

The foreign consortium also includes Hong Kong`s CLP Holdings (HKSE:0002.HK - News), Hong Kong & China Gas Co Ltd (HKSE:0003.HK - News) and Russian firm Stroytransgaz, industry sources say.

The three giants would talk with the three firms later over the share split, the sources say.

They also say the foreign consortium will sign a framework agreement with PetroChina on July 4. The two sides would set up two joint ventures in the second half of this year, one to build the pipeline and the other to sell the gas.

The ventures are expected to have terms of 45 years and include a production sharing agreement.

The pipeline from the northwestern region of Xinjiang to the eastern city of Shanghai would move 12 billion cubic metres of gas a year. It is scheduled to deliver the first gas in early 2004.

PetroChina could also sign an agreement to grant domestic major Sinopec (NYSE:SNP - News; HKSE:0386.HK - News; Shanghai:600028.SS - News) a five percent stake in the mega project, which would reduce its own stake to 50 percent, industry sources said.



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Wednesday July 3,
4:48 PM

CNOOC, BP to submit LNG feasibility study

BEIJING, July 3 (Reuters) - A Chinese consortium led by China National Offshore Oil Corp (CNOOC) and oil giant BP aims to finish a feasibility study for China`s first liquefied natural gas (LNG) project in August, company officials said on Wednesday.

But the study would not be submitted for approval until the government had selected a gas supplier for the three million tonne per year (tpy) LNG import terminal in the southern province of Guangdong, officials said.

"We`re trying to submit the feasibility study in August to the State Development Planning Commission," a CNOOC official told Reuters.

"Technically there is no problem. But the prerequisite is that the government must decide on gas suppliers first," said the official, who declined to be indentified.

CNOOC, parent of Hong Kong and New York listed CNOOC Ltd

, shortlisted three bidders -- BP Plc in Indonesia, Australia LNG Pty Ltd and Qatar`s Ras Laffan Co -- early this year to supply the Guangdong terminal, which is due to come on line in 2005.

Industry sources said the government was expected to announce the winner soon.

BP holds a 30-percent stake in the $616 million first phase project and CNOOC is the leading shareholder with 33 percent.

A phase-two expansion would boost the size of the terminal to five million tonnes in 2009.
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Wednesday July 3,
3:45 PM

BP Is Bullish On Russia-China-South Korea Gas Pipeline

BEIJING (Dow Jones)--BP PLC (BP) is confident that a proposed $11 billion pipeline to carry natural gas from fields in Russia to markets in China and South Korea can be successful, its chief China executive said Wednesday.
"I`m confident that gas must come from Russia, and I`m confident that an economic project will be developed to bring that gas to China," Gary Dirks told a news briefing.

"If it`s an interesting economic project, you can be assured we will be participating," he said.

But the companies backing the project, including Korea Gas Corp. (Q.SKG), Rusia Petroleum Corp. and China National Petroleum Corp., only recently restarted discussions on the pipeline`s feasibility study after a halt of nearly a year.

The study was originally to be completed in March, but it is now expected to be wrapped up by the end of 2002. The pipeline would originate in the Kovykta natural gas field in Irkutsk, in which BP owns a 30.84% interest, travel through China and terminate in South Korea. The route hasn`t been decided.

Dirks said the proposed pipeline would carry about 30 billion cubic meters of natural gas a year, with 20 billion cubic meters of that going to customers in China and the remaining 10 billion to South Korea.

He contrasted BP`s enthusiasm for the Russia-Korea pipeline to its decision not to participate in another ambitious gas pipeline project, one that will link gas fields in China`s western Xinjiang province with the booming cities on its eastern seaboard.

That project, dubbed the West-East gas pipeline, is being developed by state-owned PetroChina Co. (PTR) which holds a majority stake of 55%. Royal Dutch/Shell Group (RD), OAO Gazprom (R.GAZ) and Exxon Mobil Corp. (XOM) each hold a 15% stake in the project.

"The project was very advanced, and we weren`t going to be able to make a substantial contribution to improving the quality of the project," Dirks said. "The Russian project is in a very different stage, and the ability for BP to contribute is much more substantial."

-By Andrew Batson, Dow Jones Newswires; 8610-6588-5848; [e-mail]

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Date: Sept. 19th to 21st, 2002

[YabbaDabbaDoo]

Xinhuanet 2002-07-04 22:32:48


BEIJING, July 4 (Xinhuanet) -- China Thursday launched a 140-billion-yuan (17 billion US dollar) natural gas transmission project, which is designed to supply billions of cubic meters of natural gas each year to the country`s east from the northwest through a pipeline of up to 4,200 km.

The pipeline starts from Lunnan oil and gas field in southern Xinjiang Uygur Autonomous Region, northwest China, and runs through the provinces of Gansu, Shaanxi, Shanxi, Henan, Anhui, Jiangsu and the Ningxia Hui Autonomous Region, and ends at Shanghai and Zhejiang province, east China.

Chinese Vice-Premier Wu Bangguo declared the construction of the project underway at a ceremony in the Great Hall of the Peoplein Beijing.

In a letter of congratulation, Chinese President Jiang Zemin said the West-to-East Gas Pipeline Project is a major move in China`s strategy to promote the development of western China.

During his meeting with overseas contractors Thursday, Chinese Premier Zhu Rongji said China welcomes the involvement of overseas companies in the project.

He called for improved cooperation between Chinese operators and their overseas partners in order to complete the project as scheduled.

Construction of parts of the pipeline began Thursday in Korla city of the Xinjiang Uygur Autonomous Region, Nanjing in Jiangsu Province, Zhengzhou in Henan Province and Jingbian County in Shaanxi Province.

The contract, covering what is believed to be the largest Sino-foreign investment scheme for energy construction since the founding of new China, has been signed between the China National Petroleum Corporation and an overseas consortium composed of Shelland investors from Hong Kong and Russia.

At a ceremony held today in the Gobi desert at the Tarim Oilfield, where the gas is to be extracted from, six automatic machines began welding the pipeline in an area decorated with colored flags.

When the project is completed in 2005, it is expected to transfer 12 billion cubic meters of gas annually for industrial and domestic use to Shanghai and other parts of the Yangtze River Delta.

According to official statistics, western China has a gas reserve of 2.2 trillion cubic meters, 59 percent of the total onshore natural gas in China. Four key oilfields have been opened up in the region over the past few years. They have a combined yearly production capacity of 18 billion cubic meters.

By 2010, western China will be able to produce 50 billion cubicmeters of gas annually, half of which will be shipped to energy-starved eastern China.

A Chinese economist said construction of the West-East Gas Pipeline is of vital importance to China`s economic growth as a whole.

Transmission of large amounts of gas to energy-deficient eastern China will help improve the energy structure of the Yangtze River Delta. Moreover, pollution caused by industrial waste in eastern China will be greatly reduced.

Official statistics show that Shanghai suffers from acid rain on 11 percent of the 365 days each year. When the gigantic gas project starts operation, the sulfur dioxide in Shanghai is expected to be reduced by 90 percent.

As construction of the lengthy pipeline requires 1.74 million tons of steel, large amounts of cement and other building materials, it will stimulate the cement, timber, machinery and iron and steel industries in areas along the pipeline.

Operation of the pipeline will also make it possible for 85 million urban households in eastern China to use gas for cooking. In Shanghai and Jiangsu Province alone, 17 million urban households will have access to natural gas.

The project is a chance for western China, which is rich in energy but lacks funds, to get rich. Enditem