Energy deals likely at Straits forum

Updated: 2013-10-30 07:24

By An Baijie (China Daily)

  Print Mail Large Medium  Small 分享按钮 0

Companies from the mainland and Taiwan will meet in Nanjing, Jiangsu province, to discuss cooperative energy projects next week.

The 2013 Cross-Straits Entrepreneurs Zijin Mountain Summit, to be held on Monday and Tuesday, is expected to attract about 600 entrepreneurs. Executives from China National Petroleum Corp, China's largest oil and gas producer, and State Grid Corp will attend the summit.

Wei Jianguo, secretary-general of the summit and former vice-minister of commerce, said at a news conference on Tuesday that cross-Straits energy cooperation will be discussed and deals for major projects are expected to be signed.

There will be seven smaller forums during the summit on the macroeconomy, energy and oil equipment, finance, information technology and home appliances.

Zhang Guobao, former director of the National Energy Administration, will lead the mainland's energy and oil equipment delegation during the summit, according to the summit's website.

His Taiwan counterpart will be Shih Yen-shiang, a former senior economic official.

Summit participants will discuss what advantages each side has and how to avoid redundant investments and competitors, Wei said.

The summit, first held in 2008, has become an important bridge for communication for companies from both sides, Wei said.

On Sunday, Chen Deming, president of the mainland-based Association for Relations Across the Taiwan Straits, said the mainland would like to discuss building a cross-Straits pipeline to supply natural gas to Taiwan companies.

Chen's remarks were in response to a question about infrastructure by a Taiwan representative of the ninth Cross-Straits Economic, Trade and Culture Forum in Nanning, capital of the Guangxi Zhuang autonomous region.

Duan Wei, chairman of New Taiwan Tobacco and Liquor Corp, said at the forum that Taiwan's electricity mainly relies on imported natural gas, which is always in short supply during natural disasters such as typhoons.

He recommended the construction of a gas pipeline to provide a stable flow of natural gas to Taiwan, China News Service reported.