China, Burma in $2.5 billion pipeline deal

Posted on November 18, 2008
Filed Under Burma news |

China and Burma are to build an oil and gas pipeline connecting the Bay of Bengal and the Chinese city of Kunming. Thee deal is worth US$2.5 billion according to media reports.
Bloomberg is quoting the Nikkei newspaper as saying China National Petroleum Corp will own 50.9 percent of the project, and will manage the pipeline. Myanmar Oil & Gas Enterprise will own the rest.
The oil pipeline will cost $1.5 billion and the gas line $1.04 billion. They will carry oil from the Middle East and natural gas from Burma. They will mean China no longer needs to import fuel through the Straits of Malacca, cutting seven days from the transportation time.

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One Response to “China, Burma in $2.5 billion pipeline deal”

  1. Burma » White-browed Nuthatch (Sitta victoriae) on November 18th, 2008 4:03 pm

    [...] China, Burma in $2.5 billion pipeline dealChina and Burma are to build an oil and gas pipeline connecting the Bay of Bengal and the Chinese city of Kunming. Thee deal is worth US$2.5 billion according to media reports. Bloomberg is quoting the Nikkei newspaper as saying China … [...]

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