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Chu Kong Pipe secures orders with CNPC, Sinopec and CNOOC

LNG Industry,

Chu Kong Petroleum and Natural Gas Steel Pipe Holdings, the largest longitudinal submerged arc welded (LSAW) pipe manufacturer in the PRC, is pleased to announce that the total value of the Group’s signed orders to provide quality oil and natural gas pipe for China National Petroleum Corporation (CNPC), China Petroleum & Chemical Corporation (Sinopec) and China National Offshore Oil Corporation (CNOOC) amounted to approximately RMB834 million as of 30th April 2010.

Pursuant to the sales contract, Chu Kong Pipe will supply CNPC, Sinopec and CNOOC with approximately 53,000 tonnes, 18,000 tonnes and 74,000 tonnes of oil and natural gas pipe respectively during the period from 2010 to 2011. The sales contract is worth approximately RMB834 million.

Mr. Chen Chang, Chairman of the Group, said, “The Group has teamed up with the three oil giants for years and has always been supplying quality steel pipes for their projects. Their long-term support to Chu Kong Pipe is a tribute to their recognition of the Group’s excellence in product quality, as well as a testimony of the Group’s strong reputation in the industry and leading market position.”

In addition to China’s market, the global demand for steel pipes is poised to grow rapidly. Mr. Guy Outen, Executive Vice President for exploration and production at Royal Dutch Shell Plc., pointed out earlier that the world demand for LNG will double to 4 trillion m3 by 2020. The rapidly growing demand for LNG will offer immense growth potential for steel pipe providers that meet international standards.

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