BEIJING, April 9 (Reuters) - Royal Dutch Shell andthe China National Petroleum Corp(CNPC) have signed adeal to boost cooperation in sectors like deep sea explorationas well as liquefied natural gas (LNG) and unconventional gassources like shale, CNPC said on Wednesday.
The two companies had agreed to join forces in thedevelopment of both upstream and downstream energy businesses,CNPC said on its website. (www.news.cnpc.com.cn)
Ben van Beurden, in his first overseas visit since becomingShell's chief executive, told CNPC Chairman Zhou Jiping thatboth sides have set up deep and wide-ranging ties and have hugeroom for further cooperation.
The Anglo-Dutch firm is already one of the biggest overseasinvestors in China's energy sector, and it could be well-placedto take advantage of Beijing's plans to grant foreignenterprises more market access.
It is already partnering up with CNPC, the country's topenergy group and parent of PetroChina , toexplore and develop shale gas in China's western regions.
Shell hopes to benefit from the operational andtechnological experience gained during the development of shalegas in North America, while CNPC holds the country's premium oiland gas acreage.
Shell also plans to partner CNPC to build a $12.6 billionrefinery and petrochemical complex in eastern China, a projectthat could become the single largest foreign investment in thecountry.
It is also major supplier of LNG to China, securing gas fromits global gasfields in Australia, Qatar and elsewhere. (Reporting by Judy Hua and David Stanway; Editing by AnandBasu)
