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 July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Bureau Veritas to Class, Certify FPSOs for Saipem

Bureau Veritas has been awarded a contract by Saipem to provide classification and certification services for the two Kaombo FPSOs for service off Angola. The

Kvaerner in Statoil Unmanned Platform Project

Kvaerner say that Statoil has awarded it a concept study related to a standardised, unmanned dry tree wellhead platform for the Oseberg Future Development project.

Scotland Site for World's Biggest Tidal Array

The world’s biggest tidal array is to be built in North Scotland bringing jobs and energy security to the Pentland Firth region, informs a UK Government news release.

Energy

LNG Transport Barge Design Approved by ABS

Conrad Shipyard, L.L.C. engaged Bristol Harbor Group, Inc. (BHGI) to develop a 3,000 cubic meter Liquefied Natural Gas (LNG) transport barge utilizing a Bristol

W.Africa Crude Slow to Trade; Nigerian Glut Fading

Angolan cargoes for October loading are so far finding buyers slowly, traders said on Friday, while there were further signs that an overhang of September-loading Nigerian cargoes is being absorbed.

China Appeals WTO Ruling on US Solar Panel Dispute

China has appealed against a WTO dispute panel report on anti-dumping duties applied on certain Chinese products by the United States, the World Trade Organization (WTO) said on Friday.

 
 
Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Simulators Sonar Winch
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: 0.1086 sec (9 req/sec)