皇冠体育app

皇冠体育app, Iran sign biggest oil & gas deal
(CRI)
Updated: 2004-10-31 08:51

皇冠体育app's oil giant Sinopec Group has signed a US$70 billion oil and natural gas agreement with Iran, which is 皇冠体育app's biggest energy deal with the No. 2 OPEC producer.

Under a memorandum of understanding signed Thursday, Sinopec Group will buy 250 million tons of liquefied natural gas over 30 years from Iran and develop the giant Yadavaran field.

Iran is also committed to export 150,000 barrels per day of crude oil to 皇冠体育app for 25 years at market prices after commissioning of the field.

Iran's oil Minister Bijan Zanganeh, who is on a two-day visit to Beijing pursuing closer ties, said Iran is 皇冠体育app's biggest oil supplier and wants to be its long-term business partner.

Official figures show that 皇冠体育app imported 226 million tons of oil in2003, about 13 percent of which coming from Iran.

Beijing expects to secure foreign energy supplies by the deals for its economy, which has turned 皇冠体育app into a major oil importer but suffers severe power shortages.

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