|CNPC, Uzbekneftegaz to launch JV for gas pipeline
China National Petroleum Corp. (CNPC) will establish a joint venture with Uzbekistan state oil company Uzbekneftegaz to build and operate Line D of the Central Asia-China Gas Pipeline in Uzbekistan.
Upon operation of Line D, the Central Asia-China Gas Pipeline will be able to deliver 85 billion cubic meters of gas annually, making it the largest gas transmission system in Central Asia, the CNPC said in a press release on its website.
CNPC and Uzbekneftegaz also intended to build a natural gas chemical plant at Uzbekneftegaz's Mubarek Gas Processing Plant to produce polyethylene and liquefied gas aiming at the Central Asian markets.
The two companies will start the economic and technological feasibility studies soon, SNPC said.
The agreement on the joint venture and a MOU on the chemical plant were signed by CNPC chairman Zhou Jiping and Uzbekneftegaz chairman Shokir Fayzullayev in Beijing on Tuesday during Uzbekistan President Islam Karimov's visit to China.