China Warehouse- More Than Crockery Message Board

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Strategies & Market Trends : China Warehouse- More Than Crockery

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To: RealMuLan who wrote (5791)	3/27/2006 1:12:17 PM
From: RealMuLan	Read Replies (1) of 6370

Myanmar to lay gas pipeline to China NEW DELHI, March 27 (UPI) -- Myanmar has said it will go ahead with plans for a gas pipeline to China, irking Indian officials. The Times of India newspaper said Monday the former Burma was going ahead with plans to lay an export pipeline to China in return for soft loans to improve its own drilling capabilities. New Delhi is irked because state-owned Indian firms have a 30 percent stake in two of the fields. "The survey for laying a 2,380-km pipeline to China's Yunan province has been completed," an Indian intelligence official told the Times of India. "It will start at Myanmar's Kyaukphyu in the Bay of Bengal and terminate at Ruili in China. A survey was conducted by PetroChina with which Myanmar signed a gas-export pact in January. Senior Indian oil ministry officials are still waiting for Myanmar to respond to proposed talks on a gas pipeline from that country to India. Myanmar told India the agreement with China did not imply any firm commitment and that it will keep in mind New Delhi's interests. China's agreement with Myanmar envisages supplying 6.5 trillion cubic feet of gas for 30 years from block A field in which India's ONGC Videsh owns 20 percent and GAIL 10 percent. China has agreed to give Myanmar $84 million in soft loans. Myanmar has said it will use this money to buy two oil rigs to ramp up its pumping capacity. © Copyright 2006 United Press International, Inc. All Rights Reservedhttp://www.upi.com/Energy/view.php?StoryID=20060327-010946-7773r

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