Oil giants pull out of East China Sea gas fields project
People's Daily Online, China / Sept 30
- - Royal Dutch/Shell and the Unocal Corporation have withdrawn from one of the largest offshore gas exploitation projects in China...
The companies pulled out of joint exploration, development, and marketing of natural gas resources in the Xihu Trough of the East China Sea citing "commercial reasons," Shell and Unocal said yesterday. ....
....Earlier this year the project attracted international attention after Japan protested that the development of Xihu Trough extends beyond the "median line" between the two countries. China refuted the claim, and rejected the validity of the line itself, arguing that the natural demarcation should be drawn further east....
