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China, Ecuador move toward energy deal
Quito (AFP) April 4, 2009 China is close to inking a one-billion-dollar deal to receive Ecuadorian oil, President Rafael Correa said on Saturday. "China has offered us initial capital worth one billion dollars for infrastructure projects, we are going to pay little by little with our oil," Correa said during a weekly television address. The deal will be discussed this week and is expected to include "a fund worth one billion dollars from the Chinese development bank for the construction of roads, refineries, hydroelectric plants, ports and airports." Ecuador -- the smallest member of oil cartel OPEC -- will pay in the medium and long term with crude supplies. "China has a surplus of financial resources, but a deficit in natural resources, particularly hydrocarbons," Correa said. Related Links Powering The World in the 21st Century at Energy-Daily.com
Analysis: Oil and Gas Pipeline Watch
Washington DC (UPI) Apr 29, 2009Iran is not excluded entirely from emerging as a possible natural gas supplier to the Western-backed Nabucco pipeline, U.S. representatives said. Turkey has a key role to play as an important energy hub in the European drive to diversify regional natural resource transit options, Czech officials said. The Calgary-based TransCanada Corp. began its permit process for an Alaska gas pipeline by submitting plans to a U.S. energy commission for review. |
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