Apr. 1, 2009 (Xinhua News Agency) -- PetroChina to invest 20 billion yuan in laying 3rd Shaanxi-Beijing gas pipeline

BEIJING, April 1 (Xinhua) ? PetroChina Natural Gas Pipeline Company, a joint venture between PetroChina (PTR.NYSE; 0857.HK; 601857.SH) and Beijing Gas, has decided to invest 20 billion yuan in laying the third Shaanxi-Beijing gas pipeline.

PetroChina, having a 60 percent stake in the joint venture, would invest 12 billion yuan in pipeline construction.

The pipeline is scheduled to come on stream in the second half of 2011 and is expected to provide Beijing and Tianjin with 15 billion cubic meters of natural gas, almost equal to the combined supplies of the first and second pipelines.