BEIJING, Aug 27 (Reuters) - PetroChina (0857.HK: Quote, Profile, Research) says it has set the route for a second massive gas pipeline linking its remote northwestern region to the booming coast, as the world's No. 2 oil producer by market value firms up plans to bring in gas from Turkmenistan.
The pipeline will stretch from the far western border of the Xinjiang region to Guangzhou, capital of southern China's Guangdong province and eastward to end at the financial hub of Shanghai, CNPC, parent of PetroChina, said on Monday on its Web site www.cnpc.com.cn.
PetroChina is set to complete by October the feasiblity study for the project, which is designed to take in 30 billion cubic metres of gas a year from Turkmenistan, CNPC said.
It did not give a value for the investment, but the country's first cross-country gas pipeline, the flagship 4,000-km West-to-East project cost some $5 billion.
CNPC said PetroChina would be the sole investor.
The trunk line will be 4,859 kilometres long, and including the branch lines, will span more than 7,000-km in length, CNPC said.
CNPC has agreed to import 30 billion cubic metres of gas, or 60 percent of the country's total consumption, a year from Turkmenistan with the first gas flow targeted for as early as 2009.
Beijing wants to more than triple the use of the green fuel, which now fuels barely 3 percent of China's energy, to 200 bcm a year by 2020.
The pipeline will stretch from the far western border of the Xinjiang region to Guangzhou, capital of southern China's Guangdong province and eastward to end at the financial hub of Shanghai, CNPC, parent of PetroChina, said on Monday on its Web site www.cnpc.com.cn.
PetroChina is set to complete by October the feasiblity study for the project, which is designed to take in 30 billion cubic metres of gas a year from Turkmenistan, CNPC said.
It did not give a value for the investment, but the country's first cross-country gas pipeline, the flagship 4,000-km West-to-East project cost some $5 billion.
CNPC said PetroChina would be the sole investor.
The trunk line will be 4,859 kilometres long, and including the branch lines, will span more than 7,000-km in length, CNPC said.
CNPC has agreed to import 30 billion cubic metres of gas, or 60 percent of the country's total consumption, a year from Turkmenistan with the first gas flow targeted for as early as 2009.
Beijing wants to more than triple the use of the green fuel, which now fuels barely 3 percent of China's energy, to 200 bcm a year by 2020.
