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PetroChina and CAPCO sign joint venture and cooperation agreements

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Publish time: 17th November, 2011      Source: CNPC
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On November 15, PetroChina West-East Gas Pipeline Company and PetroChina International initialed four agreements with Castle Peak Power Company Limited (CAPCO) respectively in Hong Kong. Signing of the four agreements on joint venture, gas supply, commissioned gas transportation and operation is an important milestone to realize gas supply to Hong Kong from the Second West-East Gas Pipeline in the second half of 2012.

CNPC Vice President Liao Yongyuan, CAPCO Chairman and ExxonMobil Energy Ltd. Chairman and Managing Director Kim Teck Neo, CLP Power Hong Kong Limited Vice Chairman Yuen So Siu Mai Betty attended the signing ceremony.

CAPCO is a joint venture between CLP Power Hong Kong Limited (40%) and ExxonMobil Energy Limited (60%) with three power stations in Hong Kong of a total capacity of 6,908 megawatts. CNPC signed a framework agreement with CAPCO to construct the Hong Kong branch of the Second West-East Gas Pipeline in April 2010.

Natural gas arrived at Guangzhou from the Second West-East Gas Pipeline on June 30, 2011. The Hong Kong branch is scheduled to be completed and ready for gas supply in the second half of 2012, with an annual deliverability of 6 billion cubic meters.