Right on Track
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.