Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Shanghai Stock Exchange  >  PetroChina Company Limited    601857   CNE1000007Q1

PETROCHINA COMPANY LIMITED

(601857)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

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

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

© Publicnow 2012
All news about PETROCHINA COMPANY LIMITED
04:06aPETROCHINA  : Monthly Return of Equity Issuer on Movements of Securities for the..
PU
02/22Asian ADRs Move Sharply Lower in Monday Trading
MT
02/19Myanmar protests stall fuel imports, drive up costs
RE
02/18China to Lift Retail Fuel Prices from Friday
MT
02/16Hong Kong stocks close at 2-1/2 year high on economic optimism after Lunar Ne..
RE
02/16Economic optimism lifts HK stocks to 2-1/2-year high after Lunar New Year bre..
RE
02/12Shell LNG Canada's coronavirus restart plan approved
RE
02/09EXCLUSIVE - SINGAPORE'S JURONG PORT : sources
RE
02/01PETROCHINA  : Monthly Return of Equity Issuer on Movements in Securities(..
PU
02/01PETROCHINA  : Warns of Up to 63% Plunge in 2020 Net Profit
MT
More news
Financials
Sales 2020 1 937 B 300 B 300 B
Net income 2020 19 790 M 3 061 M 3 061 M
Net Debt 2020 408 B 63 164 M 63 164 M
P/E ratio 2020 18,3x
Yield 2020 6,43%
Capitalization 757 B 117 B 117 B
EV / Sales 2020 0,60x
EV / Sales 2021 0,52x
Nbr of Employees 460 724
Free-Float 15,6%
Chart PETROCHINA COMPANY LIMITED
Duration : Period :
PetroChina Company Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PETROCHINA COMPANY LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 2,67 CNY
Last Close Price 2,34 CNY
Spread / Highest target 67,0%
Spread / Average Target 13,9%
Spread / Lowest Target -27,1%
EPS Revisions
Managers and Directors
NameTitle
Liang wei Duan President & Executive Director
Shou Ping Chai Chief Financial Officer & Secretary
Hou Liang Dai Chairman
Bo Lü Chairman-Supervisory Board
Tatsuhito Tokuchi Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
PETROCHINA COMPANY LIMITED5.30%116 625
SAUDI ARABIAN OIL COMPANY-1.43%1 835 963
ROYAL DUTCH SHELL PLC15.67%154 808
TOTAL SE8.71%121 913
PETROCHINA COMPANY LIMITED17.08%116 625
GAZPROM4.02%69 324