Kazakhstan To Sell 5 Bcm Of Gas To China For $1B
ALMATY, Oct 3 (Reuters) - Kazakh state-owned firm KazTransGas will ship 5 billion cubic metres of natural gas to China's PetroChina for about $1 billion, the Kazakh company said on Tuesday, the first such deal between the two countries.
Shipments will start on Oct. 15 and will be carried out over the course of one year, KazTransGas said in a statement.
A gas pipeline completed in 2009 connects all Central Asian energy exporters - Turkmenistan, Uzbekistan and Kazakhstan - to China. But Kazakhstan has until now exported gas only to Russia because additional pipelines were needed to link its fields to the Chinese one.
KazTransGas, which operates Kazakh gas pipelines and has no upstream assets, did not name the producers that would supply the gas but said some of it would come from the stocks in its storage.
(Reporting by Olzhas Auyezov, editing by Louise Heavens)
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