Oil Giant Shell Made Its Debut on China’s Urban Pipe Gas Market
Date:05-14-2005 Source:
Shell (China), Hong Kong Towngas, and Hongzhou Gas (Group) Co. Ltd. signed the agreement to co-manage Hangzhou’s high-pressure gas pipeline network.. This is Shell’s, the global oil giant, first participation in China’s urban pipe gas market.
The joint venture will invest a total amount of RMB 750 million (US$91 million) for building a 117 kilometers pipe and two natural gas stations. Hangzhou Gas (Group) Co. Ltd. holds 51% of the joint venture’s total shares, with Shell and Hong Kong Towngas having 39% and 10% respectively.
Source:FDI)
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