Royal Dutch Shell and China National Petroleum yesterday announced plans to jointly develop natural gas deposits in China, as the Anglo-Dutch group seeks to strengthen its ties with the world's second-biggest energy consumer.
Under the agreement, which requires approval by the Chinese government, Shell and CNPC, China's largest oil and gas producer, will develop natural gas deposits in a 4,000 sq km area in Sichuan province. The 30-year partnership with CNPC follows Shell's joint $3.2bn bid with PetroChina this week for the Australian gas company Arrow Energy.
Shell and PetroChina, a subsidiary of CNPC, already operate a gas field in the Changbei tight gas field in China's Shaanxi province.
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