PetroChina, Sinopec ink agreement with Zhejiang government for 6 petrochem projects

PetroChina Co Ltd and China Petroleum & Chemical Corp (Sinopec) have signed an agreement with the Zhejiang government on six petrochemical projects worth 139.1 bln yuan (US$22 bln), as per China Securities Journal . The report said the two companies would work with Zhejiang provincial government to strengthen the supply of natural gas and refined oil, and build facilities, without citing sources. PetroChina would cooperate with Zhejiang to promote a project in Taizhou and to build compressed natural gas and liquefied natural gas plants for PetroChina Kunlun Gas Co and Quzhou government. Sinopec would focus on development of a long-distance natural gas pipeline between Xinjiang and Zhejiang, and Wenzhou Sinopec LNG projects.
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