China Begins Work on Third East-West Gas Pipeline
CNPC has started work on China’s third pipeline that will send natural gas from the nation's resource-rich western regions to the energy-starved east, Xinhua has reported.
The east-west pipeline will transmit 30 billion cubic meters of gas annually and will measure close to 5,000 km. It will start from Horgos in Xinjiang and end at Fuzhou, capital city of Fujian, the news report said.
Around 25 billion cubic meters of gas will come from central Asian countries each year, meanwhile, five billion cubic meters of gas will come from Xinjiang, according to the China National Petroleum Corporation.
The project, which is expected to cost almost $20 billion will be completed before 2015.
CNPC, Baosteel and China's Social Security Fund agreed in May to jointly invest in the scheme through a joint venture company. The project is also open to private investment. CNPC has a majority stake at 52%.