Right on Track

Beijing Review - - THIS WEEK -

A new freight route link­ing China and Pak­istan is launched on Oc­to­ber 23. The first train de­parted from a lo­gis­tics cen­ter in Lanzhou in north­west China’s Gansu Prov­ince, bound for Kash­gar in Xin­jiang Uygur Au­ton­o­mous Re­gion. The goods were then trans­ported to Is­lam­abad by high­way.

The ENN Group in­vested nearly 7.7 bil­lion yuan ($1.1 bil­lion) in the project.

It also signed pur­chase con­tracts for around 1.75 mil­lion tons of LNG an­nu­ally, ac­cord­ing to Ma Shenyuan, the com­pany’s Se­nior Vice Pres­i­dent.

Given the in­creas­ing global de­mand for en­ergy, and great changes in the en­ergy struc­ture, more and more Chi­nese pri­vate en­ter­prises are en­ter­ing the global oil and gas mar­ket, Xu Xiaoyue, Vice Mayor of Zhoushan, said.

The pri­vate sec­tor has grad­u­ally be­come a ma­jor ac­tor in the do­mes­tic and global oil trad­ing in­dus­try, con­tribut­ing to in­no­va­tion and de­vel­op­ment in the man­age­ment of crude trad­ing as well as en­sur­ing the sta­ble sup­ply of do­mes­tic crude oil. Li Cheng­gang, China’s As­sis­tant Min­is­ter of Com­merce, said this at the sec­ond In­ter­na­tional Pe­tro­leum and Nat­u­ral Gas En­ter­prises Con­fer­ence in Zhoushan on Oc­to­ber 18.

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