Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  PetroChina Company    601857   CNE1000007Q1

PETROCHINA COMPANY

(601857)
My previous session
Most popular
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

PetroChina Company Limited : PetroChina and International Energy Firms Launch LNG Canada

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/15/2012 | 05:27pm EST

16 May, 2012, Beijing-PetroChina Company Limited ("PetroChina" or "the Company", HKSE: 0857; NYSE: PTR; SSE: 601857), Shell Canada Ltd., Korea Gas Corporation (KOGAS), and Mitsubishi Corporation today announced they would jointly develop a proposed liquefied natural gas (LNG) export facility near Kitimat, British Columbia, Canada.  Shell holds a 40-percent working interest, with KOGAS, Mitsubishi and PetroChina each holding a 20-percent working interest.

The proposed LNG Canada project would include the design, construction and operation of a gas liquefaction plant, and facilities for the storage and export of liquefied natural gas, including marine off-loading facilities and shipping. LNG Canada will initially consist of two LNG processing units referred to as "trains", each with the capacity to produce six million tons of LNG annually, with an option to expand the project to a total of four trains or 24 million tons per annum (mtpa).  The co-venturers decision to move the project into development could be taken around the middle of the decade, with start up around the end of the decade, pending regulatory approvals and investment decisions. This also begins an extensive consultation process with First Nations and local community residents regarding the project.   

The demand for natural gas, the cleanest burning fossil fuel, remains high in Asia and other markets. LNG Canada project brings together the four companies' extensive development experience, technical depth, financial strength and access to markets required to be the leading LNG developer in Canada.  LNG Canada would deliver a project that offers a new source of competitively priced LNG to global markets. LNG Canada would create significant economic benefit for First Nations, local communities, the region and the province. It would create thousands of jobs created during construction and hundreds of full-time, permanent jobs during operations, as well as related economic development opportunities that a significant energy infrastructure project brings to the region.

"Our combined expertise, and our focus on technological innovation in delivering LNG projects around the globe, ensures that our LNG Canada project would be well-suited to deliver long-term value for British Columbia and new export markets for Canada," says Jose-Alberto Lima, Shell's Vice President LNG Americas.

"As the world's largest operator of LNG import terminals, we recognize the potential value of the LNG Canada project for our company and for British Columbia, and look forward to conducting business in B.C. with respect for all local residents and their traditions, " said Mr. Young Sik Kwon, Vice President of Korea Gas Corporation.

"We have a history of working with our Joint Venture partners, as well as conducting business in Canada," said Junichi Iseda, Senior Vice President, Mitsubishi Corporation. "We look forward to continuing to invest in Canada through this project for creating economic growth and strengthening new, important trade links between our two nations."

"PetroChina has strong confidence in the future of the LNG Canada project. This project will contribute to a further strengthening of trade relationships between China and Canada and will help China use clean natural gas, boosting company's business." said Bo Qiliang, Vice President, PetroChina Company Limited.

###

Additional information on PetroChina is available at the Company's website: http://www.petrochina.com.cn
Issued by PetroChina Company Limited

For further information, please contact:
PetroChina Company Limited

Hong Kong: Mao Zefeng Fax: (852) 2899 2390
Tel: (852) 2899 2010 Email: hko@petrochina.com.hk
Communication Office:
Yuan Xinxiang Fax: (8610) 6209 9558
Tel: (8610) 5998 6037 Email: yuanxx@petrochina.com.cn
PR Agency (Overseas media):
Hill & Knowlton Asia Limited Fax: (852) 2576 3551
Shirley Lo Tel: (852) 2894 6214
Email: shirley.lo@hillandknowlton.com.hk
PR Agency (Domestic media):
EverBloom Investment Consulting Lt. Co. Fax: (8610) 5977 6211
Shen Di Tel: (8610) 5166 3828
E-mail: di.shen@everbloom.com.cn
SHELL CANADA MEDIA RELATIONS
STEPHEN DOOLAN Tel: 18778505023
Email: MEDIA-DESK@SHELL.COM




distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on PETROCHINA COMPANY
02/18ASIA MARKETS: Asian Markets Kick Higher On Renewed U.S.-China Trade Hopes
DJ
02/12ASIA MARKETS: Asian Markets Mostly Higher, Boosted By Energy Stocks
DJ
02/05PETROCHINA : to drop PDVSA as partner in refinery project
AQ
02/01DRILL, CHINA, DRILL : State majors step on the gas after Xi calls for energy sec..
RE
02/01China's oil majors tap new discoveries as they step up drilling
RE
01/31PETROCHINA : Sources Say Venezuela's PdVSA Out of Proposed China Refinery Deal -..
DJ
01/31PETROCHINA : to drop PDVSA as partner in refinery project – Sources
AQ
01/31EXCLUSIVE : PetroChina to drop PDVSA as partner in refinery project - sources
RE
01/23PETROCHINA : Nomura trims PetroChina to HK$7
AQ
01/12PETROCHINA : & Yantai Port to develop LNG & oil storage infrastructure
AQ
More news
Financials (CNY)
Sales 2018 2 445 B
EBIT 2018 133 B
Net income 2018 59 946 M
Debt 2018 307 B
Yield 2018 2,26%
P/E ratio 2018 23,59
P/E ratio 2019 21,42
EV / Sales 2018 0,67x
EV / Sales 2019 0,64x
Capitalization 1 321 B
Chart PETROCHINA COMPANY
Duration : Period :
PetroChina Company Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PETROCHINA COMPANY
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 20
Average target price 7,20  CNY
Spread / Average Target -4,8%
EPS Revisions
Managers
NameTitle
Yi Lin Wang Chairman
Wen Rong Xu Chairman-Supervisory Board
Shou Ping Chai Chief Financial Officer
Hong Bin Liu Non-Executive Director
Bo Qiang Lin Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
PETROCHINA COMPANY4.99%194 829
ROYAL DUTCH SHELL7.64%255 497
TOTAL7.21%147 709
PETROLEO BRASILEIRO SA PETROBRAS17.81%101 803
EQUINOR ASA8.68%77 232
NK ROSNEFT' PAO--.--%64 847