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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

ALMACO Wins Statoil Order for 450 Cabins

ALMACO Group was awarded the contract to build 450 NORSOK-compliant Modular Cabins for Statoil’s Johan Sverdrup fixed platform at Apply Leirvik’s yard in Stord, Norway.

Three Dead on Pemex Platform, Fire Under Control

Three workers were killed and at least seven injured when a fire broke out on a Pemex oil processing platform in the Gulf of Mexico, but the latest in a string of incidents is now under control,

Topaz Responder Saves Refugee Migrants

Topaz Energy and Marine has emerged as an unlikely player in the effort to save refugee migrants risking their lives on the sea crossing from Turkey to Greece’s islands in order to reach Europe.

Energy

ALMACO Wins Statoil Order for 450 Cabins

ALMACO Group was awarded the contract to build 450 NORSOK-compliant Modular Cabins for Statoil’s Johan Sverdrup fixed platform at Apply Leirvik’s yard in Stord, Norway.

Oversupplied Market Eyes Floating Storage Opportunities

Brent oil price reached lows of $27/bbl in mid-January, but has recovered over the past two weeks to above the $30/bbl mark. Nevertheless, volatility is expected

Three Dead on Pemex Platform, Fire Under Control

Three workers were killed and at least seven injured when a fire broke out on a Pemex oil processing platform in the Gulf of Mexico, but the latest in a string of incidents is now under control,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | 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: 0.0742 sec (13 req/sec)