LONDON — China plans to construct an energy pipeline in Libya.
The state-owned China National Petroleum Corp. has signed a contract for
a 7.7 kilometer crude oil pipeline in Libya. In a March 15 statement, CNPC
did not elaborate.
Executives said the pipeline was the first of several energy projects in
Libya. They said future pipeline would be much larger than previous
facilities.
Tripoli has offered China tax breaks and other incentives for investing
in Libya's oil and gas industry. Executives said Libya was one of nine
oil-producing countries targeted for Chinese investment.