Oil & Gas

07 Jun 2024

Sinopec Unit Agrees $1.1 Bln Deal to Build Gas Pipelines for Saudi Aramco

07 Jun 2024  by reuters   

The logo of China Petroleum & Chemical Corporation, or Sinopec, is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren/File Photo Purchase Licensing Rights
A Sinopec service unit said on Thursday it has signed a 7.956 billion yuan ($1.10 billion) deal to build natural gas pipelines for Saudi state oil company Aramco.

The contract is for Sinopec Oilfield Service Co (600871.SS), opens new tab to procure and construct the third-phase of the Master Gas System in Saudi Arabia, the Chinese firm said.

Sinopec will build parts of the pipeline grid that includes trunk lines with a total length of 2,630 kilometers (1634.21 miles) and 1,340 km of branch lines, part of Aramco's plan to expand gas distributions across the kingdom.

Under the deal, Sinopec is expected to complete construction by end of May 2027, the company said.


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