PetroChina announces shortlist for pipeline investment

By an OGJ Online Correspondent

BEIJING, June 6 -- PetroChina has shortlisted another foreign consortium and a foreign company as potential investors for construction of a major natural gas pipeline.

Previously, a consortium of ExxonMobil China Gas Pipeline Ltd. and CLP Enterprises Ltd. was shortlisted for the project (OGJ Online, June 5, 2001).

A consortium of BP Global Investment Ltd., Malaysia's Petronas, Mitsubishi Corp., Nissho Iwai Corp., and Itochu Corp. was shortlisted, as was single company Shell International Gas Ltd.

Seven companies or consortia submitted bids to invest in the line (OGJ Online, May 22, 2001).

PetroChina is due to start building the 4,000-km, $4.8 billion pipeline in September and completion is slated before June 2003.

Foreign companies could hold a majority stake in the line linking Xinjiang in the west and Shanghai in the east.

PetroChina will start one-on-one negotiations with the shortlisted companies or groups and select the final investors by early July.