Chinese LNG Project Progressing

Friday, August 03, 2001
A Chinese consortium led by China Offshore Oil Corp. (CNOOC) and oil major BP aim to complete a feasibility study for China's first liquefied natural gas (LNG) project by next June. An agreement for the supply of gas is also expected to be sealed in a similar timeframe, the official said. The Chinese consortium and BP plan to build a three million ton per year (tpy) LNG import terminal in southern Chinese province of Guangdong by the end of 2005. "We aim to finish the study around May or June next year. It is hoped that the gas supply contract will also fall into place around the same schedule," he said. The Guangdong LNG Joint Executive Office, a joint management team based in the city of Shekou, is preparing bidding documents for potential gas suppliers, the Shekou-based official said. He did not say when the bidding documents would be issued, adding that the papers were subject to approval by the State Development Planning Commission. Companies vying for the gas supply contract include Royal Dutch/Shell, a partner in Australia's Northwest Shelf and Russia's Shakhlin gas projects, and BP which has a stake in Indonesia's Tangguh LNG project. National oil companies in Malaysia and Oman were also among keen candidates, industry sources said. The official said the joint management team also was looking to seal take-or-pay gas sales contracts with consumers in China's most prosperous province of Guangdong by mid-2002. In April, BP took a 30 percent equity stake in the $616-million project, which includes the LNG terminal and a 215-km pipeline. CNOOC, the parent of CNOOC Ltd., is the leading shareholder with 33 percent equity. Chinese partners in the CNOOC consortium are five Guangdong companies and Hong Kong utilities, Hongkong Electric Holdings Ltd. and Hong Kong and China Gas Co Ltd. - (Reuters)
Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

China Building Island Big Enough for Airstrip

Satellite images show China is building an island on a reef in the disputed Spratly Islands large enough to accommodate what could be its first offshore airstrip in the South China Sea,

Update: Explosion in the Gulf of Mexico

An explosion occurred aboard a production platform Thursday at West Delta 105, operated by Fieldwood Energy, resulting in one fatality and three injured. The Bureau

Deepwater Semi-Sub COSL Prospector Delivered

COSLProspector, the fourth deep-water semi-submersible drilling rig built by CIMC Raffles for China Oilfield Services Limited (COSL), has been delivered in Yantai, Shandong Province.

Energy

Venezuela Ships First Crude Mixed with Algerian Oil to China

Venezuela is sending its first shipment of crude mixed with Algerian light oil to China, according to state oil company PDVSA and traders.   Venezuela recently

Update: Explosion in the Gulf of Mexico

An explosion occurred aboard a production platform Thursday at West Delta 105, operated by Fieldwood Energy, resulting in one fatality and three injured. The Bureau

New Tidal Wave Energy Device Completes Sea Trials

In the continuing quest to harvest efficient, renewable energy from the power of the world’s tides, an organization called Sustainable Marine Energy’s announced

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Pipelines Pod Propulsion Salvage Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1488 sec (7 req/sec)