PetroChina gas project 50pc sealed Customers from several provinces commit to buy from the west-to-east pipeline, accounting for half of its capacity.

(From South China Morning Post)

Byline: Eric Ng

PetroChina, the country's largest oil and gas producer, has signed gas sales contracts for 50 per cent of the designed capacity of the west-to-east gas pipeline in a major breakthrough for the project.

The US$5.2 billion pipeline project, which has just begun sending gas to Shanghai, had been clouded by protracted negotiations with would-be customers who had complained of its high gas prices, as well as uncertainties over whether foreign investors would pull out or be shut out of the project.

PetroChina public relations director Bi Jianguo said that the company had signed "take-or-pay" …