According to Eva Chu, revenue from the Shanghai shipments may reduce the company's need to share financial risk.

"From a financial standpoint, PetroChina doesn't need any foreign partners to complete the project," said Chu, and she has a point.

With PetroChina already agreeing to supply 2.37 billion cubic metres of gas to Shanghai residents and manufacturers, according to PetroChina spokesperson Bi Jianguo, the company's fiscal future seems bright

Furthermore, while Shell, ExxonMobil and Gazprom have agreed to hold a 15% stake in the pipeline, none of the three foreign giants have signed a binding contract with PetroChina.

However, according PetroChina spokesperson Mao Zefeng, "PetroChina may still sign an agreement with foreign companies looking to cash in on the government's push to reduce power shortages with the use of cleaner fuels such as gas." He also added that, "We are still in talks with the interested foreign companies, and there's no timetable set for the negotiations to be concluded."

Shell spokesperson Lusha Li confirmed that Shell remained committed to the pipeline project. No comments were recorded from Gazprom and ExxonMobil.