China Petroleum and Chemical Corporation (Sinopec; SNP.NYSE, 0386.HK, 600028.SS) announced Monday that it has started to pump gas through its Sichuan-Shanghai natural gas pipeline, state media reported. The 17,000 km pipeline, a US$9.19 billion investment, will carry an annual 12 billion cubic meters of natural gas from the the Puguang gas field in Sichuan across eight provinces and municipalities before finally reaching Shanghai. The pipeline, which was initially expected to start operations last year, took more than 2 years to construct and is intended to ease gas shortages in China’s energy-hungry eastern provinces.
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