Unocal Consortium Plans To Construct Gas Pipeline
April 26, 2011
Uptown -- Unocal Corp. and Delta Oil Co. of Saudi Arabia said they have joined forces with Russia's Gazprom and Turkmenistan's Turkmenrusgaz to build a pipeline that will ship natural gas from a previously announced project in Turkmenistan. Unocal, based here, said the 900-mile pipeline project will cost an estimated $2 billion. It said Gazprom will have a 10% interest in the consortium and Turkmenrusgaz will have 5%. Unocal and Delta hold the remaining 85% stake, but Unocal said it will be inviting other companies to join the effort. The proposed pipeline will run from Turkmenistan's Dauletabad field, across Afghanistan to central Pakistan with an expected capacity of as much as two billion cubic feet of gas a day.
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