CNOOC Aims 60m LNG Imports in 15 yrs

Friday, March 23, 2007
China's offshore oil and gas specialist China National Offshore Oil Corp. (CNOOC) plans to boost its imports of liquefied natural gas (LNG) to 60 million tons a year in 15 years, Reuters reported. The plan to raise imports of cleaner LNG would help reduce reliance on dirty coal-based energy and meet growing demand in coastal regions, the China Daily reported, quoting Fu Chengyu, general manager of CNOOC and chairman of listed arm CNOOC.

China depends on coal for more than 70 percent of its energy needs. CNOOC started up China's first LNG terminal in southern Guangdong province last June that is fed with Australian gas, with annual receiving capacity of 3.7m tons in its first phase.

It is building a second import facility in Fujian province and a third in financial hub Shanghai, which would import LNG from Indonesia and Malaysia respectively. CNOOC also plans to build another two facilities in Ningbo in Zhejiang province and Zhuhai, near Macau, by around 2010.

Last October, the state firm said it signed more framework deals to buy spot LNG cargoes from Western majors Total and Royal Dutch/Shell. But the number of cargoes, time of delivery and prices were not decided.

CNOOC's Fu told the China Daily that the firm was confident its unit CNOOC Ltd. would be able to float A shares on the domestic stock market this year once some technical barriers were overcome. Source: Reuters

Maritime Reporter August 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Del Mar Signs Agency Agreement with Ciramar

Del Mar Marine Corp. announced it has signed an agency agreement with Ciramar Shipyards allowing the company to promote Ciramar Shipyard´s docking and facilities

Bouchard Orders Two Newbuild ATB Tugs

Morton S. Bouchard III, President and CEO of Bouchard Transportation Co., Inc., today announced the next step in Bouchard Transportation Co., Inc.’s ongoing fleet

Great Lakes Shipyard Wins EPA Drydock Contract

Great Lakes Shipyard has been awarded a contract for the United States Environmental Protection Agency (EPA) vessel R/V Lake Explorer II. The scope of work will include drydocking,

LNG

Bill Promotes US LNG Vessel Transport

Congressman John Garamendi (D-CA-03), Ranking Member of the House Transportation and Infrastructure’s Coast Guard and Maritime Transportation Subcommittee, introduced H.

Korea Shipbuilder Wins US$400-M Greek Order

Daewoo Shipbuilding & Marine Engineering Co., South Korea’s second-largest shipbuilder, says it has signed a contract to build 4 tankships for Maran Tankers Management,

US DOE Approves Oregon LNG Export Project

The U.S. Energy Department said on Thursday it has approved Oregon LNG to export liquefied natural gas, as the Obama administration works through applications to

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics 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: 0.1643 sec (6 req/sec)