Royal Dutch Shell and the China National Petroleum Corp (CNPC) have joined forces to strengthen cooperation in exploration, LNG and unconventional gas resources.
The two companies had agreed to join forces in the development of both upstream and downstream energy businesses, according to CNPC’s website.
Shell CEO, Ben van Beurden told CNPC Chairman Zhou Jiping that both companies have established strong ties and that there is considerable potential for further cooperation between the two.
Shell is already one of the largest overseas investors in China's energy sector, and it could be in a prime position to take advantage of Beijing's plans to grant foreign enterprises increased market access.
Shale gas development
It already has an alliance with CNPC and PetroChina to explore and develop shale gas in China's western regions. The company is also a major supplier of LNG to China, securing gas predominantly from Australia and Qatar.
Edited from various sources by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/09042014/shell_cnpc_lng_alliance_408/