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China firm to build oil pipeline in Libya

SPECIAL TO WORLD TRIBUNE.COM
Wednesday, April 4, 2007

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.


Copyright © 2007 East West Services, Inc.

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