Oil giants sign $20-bn China pipeline deal
REUTERS
THURSDAY, JULY 04, 2002 2:47:38 PM
BEIJING/HONG KONG: China signed a deal with foreign oil giants on Thursday to pipe gas from far western deserts to the eastern metropolis of Shanghai in a $20-billion project to sate a thirst for energy and cut use of dirty coal.
The 4,000-km pipeline will begin at the Tarim Basin in the deserts of the northwest region of Xinjiang, wind through eight regions and provinces and cross China's two largest rivers - the Yellow and the Yangtze - before reaching Shanghai.
The government hopes the project, in addition to feeding a rapidly growing appetite for energy on the wealthy east coast, will wean millions of homes and businesses from coal responsible for clouds of choking smog hanging over the country's cities.
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