Pipeline Investment Surge to Address China's Gas Shortage
As with the second line, Central Asia is the source of the third line. Turkmenistan, Kazakhstan and Uzbekistan and other countries look to increase their gas supply to China, relying on natural gas to promote economic and social development while trying to get out from under Russia's economic control by actively seeking cooperation with China.
PetroChina Oil Sands Deal Highlights US Insecurities
On August 31, state-owned oil behemoth PetroChina announced a deal to acquire a 60% share in the MacKay River and Dover oil sands projects from Athabasca Oil Sands Corp. for C$1.9 billion ($1.7 billion). The deal, China's largest investment to date in Alberta's oil sands, encompasses 5 billion barrels of undeveloped bitumen reserves and will require C$15 billion to C$20 billion to develop.
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