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Market News

PetroChina says to lay pipeline to Turkmenistan

HONG KONG, Aug 23 (Reuters) - PetroChina Co Ltd 0857.HKPTR.N said on Thursday it will help build a pipeline from the central Asian country of Turkmenistan to China, which would be able to pump 30 billion cubic metres (bcm) of gas annually.

Asia’s largest oil producer has also secured a production-sharing deal with Turkmenistan, which will sell the Chinese firm 17 bcm of gas per year.

“The central Asian countries of Turkmenistan, Kazakhstan and Uzbekistan are all very positive about this plan,” Chairman Jiang Jiemin said.

“The Chinese government has already signed the pipeline transport agreement with these three countries.”

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