Understanding CNPC-PetroChina's appetite for rising gas imports
During his first overseas trip in March 2013 as China's new Premier, Xi Jinping told journalists in Moscow that ‘we didn't come here to waste our time'. Premier Xi was referring to a series of energy deals signed with Russia, including a Memorandum of Understanding (MoU) for 38 bcm of pipeline imports from eastern Siberia for first delivery in 2018. At the corporate level, CNPC-PetroChina is similarly wasting no time in expanding its global gas portfolio. In H1 2013 alone, the company...