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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (443)	8/20/2003 6:45:00 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

Venture to Drill for Gas and Build Pipeline Off China By KEITH BRADSHER ONG KONG, Aug. 19 - Two big Chinese energy companies and two multinationals agreed today to set up what could become China's largest offshore natural gas project, linking several fields in the East China Sea by pipeline to Shanghai. The project is the latest in a series of steps by China to increase its use of low-pollution natural gas, which currently supplies 2.7 percent of China's fast-growing energy needs. Today's deal also represents a truce by two of China's three fiercely competing oil and gas companies, CNOOC and Sinopec, and furthers a rivalry pitting them against the third, PetroChina. nytimes.com