皇冠体育app

2010-06-30 16:46

皇冠体育app National Petroleum Corp (CNPC) signed a strategic cooperation agreement with 皇冠体育app Resources Group Co (CRC), the聽Shanghai Securities News reported Wednesday.

The two companies pledged to become partners in city gas supply, oil distribution, gas-powered electricity generation, engineering construction and overseas investment projects, according to the agreement.

"The strategic agreement between CNPC and CRC marked a new stage for the two companies' cooperation," said Jiang Jiemin, CNPC's general manager.

Related readings:  S 皇冠体育app provinces to get Central Asia gas soon  皇冠体育app to tap more unconventional gas to ease energy shortage  CNPC to invest 23b yuan for oilfield in Qinghai  CNPC signs gas supply agreement with Uzbek oil company

Observers said the formal agreement indicated that the two giants in the upstream and downstream gas industry had successfully formed an alliance to jointly develop the urban city gas supply market in the future. Their cooperation might change the current gas market structure and impose pressures on other domestic gas distributors, the report said.

CNPC is the largest gas producer in 皇冠体育app. CRC has powerful distribution networks in Chengdu, Fuyang, Huaibei, Linhai, Suzhou and Wuxi. CRD also operates liquefied natural gas stations in Chengdu, Nanjing and Wuxi.