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In securing approval to build a natural gas pipeline from northern Turkmenistan to China, PetroChina, the country’s largest oil company, has pulled off a move with striking geopolitical implications, providing an extra bloodline for the world’s fastest growing economy.
PetroChina Co. (PTR) will double its natural gas output from the Tarim oil field in the northwestern Xinjiang region this year, the Xinhua news agency reported Tuesday, citing a company official.
How long before China's economic boom runs out of gas?" This metaphorical question also has a literal aspect. China's rising fuel consumption is likely to reach 2.6 billion barrels by 2010, when it could cause global oil demand to outstrip supply, experts say.
Oil and natural gas -- lots of it -- have been discovered beneath the sands near this industrial town in the center of China's isolated western Xinjiang Province. As in Iran and Saudi Arabia at the turn of the last century, the energy boom in the region's Tarim River basin and Taklamakan desert is focusing global attention on an area rich in history but forgotten by the modern world.
In securing approval to build a natural gas pipeline from northern Turkmenistan to China, PetroChina, the country’s largest oil company, has pulled off a move with striking geopolitical implications, providing an extra bloodline for the world’s fastest growing economy.
Oil and natural gas -- lots of it -- have been discovered beneath the sands near this industrial town in the center of China's isolated western Xinjiang Province. As in Iran and Saudi Arabia at the turn of the last century, the energy boom in the region's Tarim River basin and Taklamakan desert is focusing global attention on an area rich in history but forgotten by the modern world.