China's CNOOC Signs Pipeline Assets Transfer Agreement with PipeChina
4/2/2020
BEIJING (Reuters) - China National Offshore Oil Corp (CNOOC) has signed an agreement with newly launched PipeChina on transferring management rights for oil and gas infrastructure projects, the company said in a statement on Wednesday.
The statement did not give details on what projects have been handed over.
China set up its long-awaited national oil and gas pipeline company in December to run pipeline infrastructures that had been controlled by China National Petroleum Corp (CNPC), Sinopec and CNOOC.
PetroChina, a listed arm of CNPC, also said it was trying for a deal with PipeChina on the transfer of pipeline assets and no agreement had been reached as of late March.
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Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
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