A mention in a PetroChina Half yearly report about a month ago....

A mention in a PetroChina Half yearly report about a month ago. They emphasise their commitments and current efforts to go green all throughout the report. Try to think of a better way for an established oil and gas company to start their transition to a greener future other than picking up a coal seam gas project with huge potential like the one we have in the Gobi.

From the Report:

Green and low-carbon transition at full steam. According to the specific plan on
development of new energies business, the Company accelerated the construction of
key new energies bases in desert, Gobi and barren land, and actively explored clean
power and geothermal markets.


On top of this, the project location being only a short distance from the Chinese border and other gas processing infrastructure in China means that the carbon in the usual supply chain for gas transport is heavily reduced. PetroChina appears to place a substantial level of importance on transport distances in the past, as seen in this news release in 2018, where they mention how they chose and preferred oil and gas markets in Canada as shipping LPG from the south coast of Canada to Asia is faster than from the US. One of the driving reasons for their heavy investment into the area.


From the News release:

Canada possesses abundant oil and gas resources, which can satisfy the growing demand of natural gas from China and other Asian countries. On one hand, the maritime transportation distance of LNG from Canadian west coast to Asia is shorter than from the east coast of the United States


The ability to see the potential of things where others cannot, to dig deeper is what led many of us to TMK before the masses. We are all very lucky to have identified such a prospective investment opportunity. An exiting year ahead awaits.


Well Done Holders.


View the PetroChina 1H operating report Here
View The News Release Here