Deals
PetroChina to Add Gas Assets as Japan Quake Boosts Demand
This article is for subscribers only.
PetroChina Co. pledged to accelerate acquisitions of energy assets and develop the country’s domestic natural gas resources as demand for the fuel rises following Japan’s nuclear reactor crisis.
“We will accelerate our global expansion,” PetroChina President Zhou Jiping said at a media briefing in Hong Kong yesterday, after the company posted a record quarterly profit. “The nuclear plant closure in Japan will boost its demand for oil and gas. That will have a pretty big impact as Japan is the world’s largest liquefied natural gas importer.”