Summary of China's natural gas industry in 2001 _5 -

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Summary of Natural Gas Industry in 2001

Completed. Approved by government authorities in China, Australia, Indonesia and Qatar, the three resources, was elected party negotiating the next stage. Guangdong LNG project put into operation in 2005 the first phase, second phase project in 2008. 6. Internal cooperation and external cooperation started in 2001 while natural gas projects to foreign investment to achieve substantive results. Foreign investment in the short-listed group, First Choice and Shell Petroleum Group Investment Group to negotiate. After repeated consultations, CNPC and Shell Investment Group (including Shell, Gazprom, Russia's construction and delivery of shares and the Hong Kong and China Gas Company Limited) on the scope of bilateral cooperation, participation interests, cooperation period,[link widoczny dla zalogowanych], the project business model Terms of the principle of reciprocity, and the project tendon health, safety, environmental and social impact of the standards reached a consensus on matters of principle, and in December 2001 29El natural gas joint venture signed a framework agreement for the completion of laying the foundation stage agreement. CNPC and Sinopec Group were involved in pipeline project investment, the proportion of all pipeline projects, 50% CNPC, Sinopec Group, 5%, 45% foreign. On this basis, the Group is working with Shell Petroleum Investment Group, a joint venture framework agreement for the drafting and negotiation. Guangdong LNG project initiated by Chinese and foreign parties in April 2001 signed a project cooperation agreement in principle. Proportion of shares to parties: China National Offshore Oil Corporation (CNOOC) 33%, the project sponsor, Guangdong 5 31% 3% Hong Kong Electric Holdings Ltd., Hong Kong and China Gas Company Limited 3%, BP's 30%. January 2001 l1 20El, China National Offshore Oil Company Limited announced that the Australian liquefied natural gas company with the discussion with the North West Shelf partners, including BHP (North West Shelf) oil company, BP Development Company of Australia, Chevron Australia, El The Australian LNG,[link widoczny dla zalogowanych], Shell Development (Australia) company, Woodside Energy Ltd (Woodside) signed a framework agreement to jointly invest in the market supply LNG to China's North West Shelf gas development project in Australia. Development of domestic natural gas resources, China National Offshore Oil Corporation and Sinopec Group will set up a joint venture to attract foreign partners to jointly develop natural gas resources in Xihu Trough, East China Sea. CNOOC and Sinopec are expected Group has a 30% stake, owns 40% foreign equity. September 2001 27El, CNOOC and Shell Exploration (China) Co., Ltd. signed the ((joint research agreement in Bohai Bay in China industry is in a period of rapid growth, domestic and foreign major oil companies are targeting this emerging market, market competition will become increasingly fierce. In Shandong, Cang Zi CNPC has built gas pipeline from Zibo. Sinopec Group is building a Qingdao, Jinan, Zibo, a pipeline, the market for gas supply to Shandong. in the Yangtze River Delta region, CNPC West-East Gas Pipeline in 2004 to the region through the gas supply, gas supply is projected at 5.5 billion cubic meters. CNOOC and Sinopec Group with foreign joint venture to develop natural gas Xihu Trough, East China Sea in 2004, Zhejiang and Shanghai to the gas supply, gas supply is projected at 8 billion cubic meters. In order to gain the initiative in the competition, the major domestic oil companies and enterprise groups to develop the local gas market. CNOOC and Zhejiang Energy Group Co., Ltd. signed a ((Zhejiang Natural Gas Development Company Limited on the formation of a framework agreement, increase the supply of natural gas in Fujian Province, Fujian Province, the natural gas market development. CNPC Group and the Petroleum Corporation of Shandong Province, Shandong Natural Gas Petroleum joint venture limited liability company, joint construction of gas pipelines,[link widoczny dla zalogowanych], development of natural gas market. Shell,[link widoczny dla zalogowanych], BP, Exxon Fu and other major international oil companies with CNPC and China National Offshore Oil Cooperation, has entered China's gas market. China's natural gas will become increasingly fierce market competition. In 2001, China joined the WTO, Beijing's successful Olympic bid,[link widoczny dla zalogowanych], China's natural gas industry faces new opportunities. Looking to the future, with the West-East, Shibuya ninglam pipelines, ZhongWu line and the introduction of Russian natural gas pipeline built, production and sales of natural gas will grow substantially. by both domestic and foreign resources for implementation of the strategy and the natural gas pipeline further construction of infrastructure, the country will gradually form a natural gas pipeline network and natural gas industry will achieve sustained, healthy and rapid development. Received :2001 -05-17 Editor: Ice Tong

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