China to Complete Russia Pipeline Sections by End-2018 -Official
BEIJING, May 12 (Reuters) - China is expected to complete the sections of the massive Russian oil and gas pipelines that lie in the northeastern province of Heilongjiang by the end of next year, a top provincial official said on Friday.
The oil pipeline, from Mohe at the Russian border to the city of Daqing, is the China leg of the second East Siberia Pacific Ocean pipeline (ESPO) project that pumps Russian crude oil to China, with an annual capacity of 15 million tonnes.
Li Haitao, vice governor of Heilongjiang said China has also started laying the domestic portion of a Russia-China natural gas pipeline, dubbed "Power of Siberia", that has a planned annual capacity of 38 billion cubic metres.
"We expect both the oil and gas pipelines to be ready for operation around end of 2018," Li told reporters at the Belt and Road Forum, a government-organised event that gathers 29 nations to promote China's ambitious Silk Road project to expand trade and investment.
Both pipelines are being built by state energy giant China National Petroleum Corp (CNPC).
The first ESPO pipeline has been sending 15 million tonnes a year Russian crude oil to China since 2011. CNPC has said the Power of Siberia gas pipeline will start delivering gas to China in 2019.
Li said the focus for his province's Silk Road efforts would be expanding trade and investment with Russia.
China is also planning a joint venture refinery and petrochemical complex in Russia near the Chinese border with an estimated investment of 6 billion yuan ($870 million), with a privately-run Chinese firm leading that investment, said Li.
"A pipeline will be built to supply refined fuel back to China," Li added, without giving further details.
The private firm investing in the petrochemical plant, Tianlangxing Power Equipment Co Ltd, has already built two solar power plants in Russia and building a third one, said Li.
($1 = 6.9040 Chinese yuan) (Reporting by Chen Aizhu; Editing by Tom Hogue)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Weatherford CEO's Rebound Plan Relies On Getting Smaller
- Iran Says Oil Market Is Too Tight For US Zero Exports Target
- China's Squeezed 'Teapots' Eye Petchem Path To Riches
- Baker Hughes: US Drillers Add Oil Rigs For Second Week In Three
- Venezuela Hands China More Oil Presence, But No Mention Of New Funds
- Falcon Oil Declares Commercial Flow Test Results for Shenandoah Well
- Japan Failing to Meet Corporate Demand for Clean Power: Amazon
- Macquarie Strategists Expect Brent Oil Price to Grind Higher
- UK Oil Regulator Publishes New Emissions Reduction Plan
- PetroChina Posts Higher Annual Profit on Higher Production
- Pennsylvania County Joins List of Local Govts Suing Big Oil over Climate
- McDermott Settles Reficar Dispute
- US, SKorea Launch Task Force to Stop Illicit Refined Oil Flows into NKorea
- Russian Navy Enters Warship-Crowded Red Sea Amid Houthi Attacks
- USA Commercial Crude Oil Inventories Increase
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Equinor Makes Discovery in North Sea
- Standard Chartered Reiterates $94 Brent Call
- India Halts Russia Oil Supplies From Sanctioned Tanker Giant
- DOI Announces Proposal for Second GOM Offshore Wind Auction
- Centcom, Dryad Outline Recent Moves Around Red Sea Region
- PetroChina Set to Receive Venezuelan Oil
- Czech Conglomerate to Buy Major Stake in Gasnet for $917MM
- US DOE Offers $44MM in Funding to Boost Clean Power Distribution
- Oil Settles Lower as Stronger Dollar Offsets Tighter Market
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension
- Equinor Makes Discovery in North Sea