China to open natural gas industry to foreign countries

Jun 22, 2004 02:00 AM

According to China National Petroleum Corporation (CNPC), a backbone of China's gas industry, China is carrying out an overall opening up in the natural gas industry.
Since the gas fields in China mainly are distributed in the sea, and the western part of China, China needs to introduce much capital, advanced technologies and management to speed up the gas exploitation and development.

And from 2002 to 2020, an investment of CNY 220 bn or more will be needed in the construction of gas pipelines and liquid gas transportation.
The growing infrastructure construction is deemed to bring about an upsurge of investment in the gas terminal market. In the power generation, the gas consumption will increase from 14 % to 30 % of the total, which will provide many business opportunities for the foreign equipment suppliers.

Besides, the foreign capital and technologies will also play important roles in the development of the coalbed methane.
Thus China's gas industry is expected to attract much foreign investment since then. By far, China has signed more than 200 contracts and introduced $ 9.3 bn foreign capitals in this field.

Source: SinoCast
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