PetroChina Withdraws from Canadian Pipeline Project
by AFX News Limited
July 13, 2007
Chinese companies withdrew from a Canadian
pipeline project, amid delays, with China National Petroleum Corp, the parent of
PetroChina, saying the Canadian government should have done more to help along a
four-billion dollar pipeline project linking Canada's booming oil sands to a
Delays in starting the project reflected an unwillingness to allow Chinese
firms into the Canadian markets, Song Yiwu, vice president of China National
"The environment is not comfortable. We tried to come here and we can't,"
Song told the daily Globe and Mail during an investment conference in Calgary.
"We sincerely wanted to do something and open up a new market for Canadian
crude, but Canada doesn't want to open up its own markets to us. So we cannot
cooperate, and I really don't know how to help," he said.
PetroChina had agreed in principle with Enbridge Inc, a Calgary-based
pipeline company behind the so-called Gateway project, to buy half of some
400,000 barrels of crude expected to flow each day through the pipeline.
But the project has been delayed because of lack of support by Canadian
firms and native land claims along the proposed route. Enbridge pushed the
completion date from 2009 to beyond 2012.
Copyright 2007 AFX News Limited. All Rights Reserved.