Energy cooperation to drive Pan-Pearl River Delta economic growth

Energy development should be given priority in the Pan-Pearl River Delta (PPRD) regional cooperation to form a driving force for the economic growth in the region, said Zhang Jiaren, vice president of the China Petroleum and Chemical Corporation (Sinopec), here Wednesday.

Speaking at the second-day meeting of the PPRD Regional Cooperation and Development Forum, Zhang, also chief financial officer of Sinopec, said that it is of great importance to improve the energy production and supply capability, as well as to adjust the energy structure in the region.

Sinopec will make efforts to develop petroleum and natural gas resources, build and upgrade the large-scale oil refining and chemical industrial facilities and accelerate the construction of pipeline networks and marketing networks in southwest China and the PPRD region, said Zhang.

The most important strategy to develop the PPRD economy is to strengthen the cooperation of communication, energy, logistics and other infrastructure construction in the region, he said.

Local governments in the PPRD region have all along attached importance to the development of petrochemical industry. Local governments and enterprises have built mutual-beneficial relationships, which will form the basis of future cooperation, said Zhang.

At the same time, the PPRD regional cooperation will provide enterprises like Sinopec new opportunities to enlarge resources and market and improve its international competitiveness, he said.

Sinopec, ranked 70 among world's top 500 enterprises by Fortune in 2002, has a number of oilfields and oil refining and chemical industrial enterprises in the PPRD region. It has a close cooperation relationship with the automobile, communication, appliances, construction materials, costumes and toy enterprises in the region.

"Participating in the PPRD regional cooperation will be a precious opportunity for Sinopec," Zhang added.

Source: Xinhua