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


People & Company News

MobileOps Pursuing Maritime Business

Redmond, Wash. based MobileOps, Inc., a software company specializing in the design and development of maritime software applications (dispatch, safety, compliance,

Half a Century at Sea

Siegfried Schmerer already dreamed of becoming a captain as a young boy. Later, as a sailor on a coaster, he suffered from seasickness. Though he thought about giving up,

MN100: Shock Mitigation

The Company: The company provides marine organizations, boat builders and equipment manufacturers with relevant subject matter expertise plus an independent overview

LNG

NASSCO Christens LNG-ready Tanker Constitution

On Saturday, August 27, shipbuilders at General Dynamics NASSCO celebrated the christening and launch of the Constitution, the sixth ship in a series of eight eco-friendly

Gasum, Wärtsilä Join Forces to develop Gas Value Chain

New joint co-operation between Gasum and Wärtsilä aims to develop the utilization and distribution of natural energy gases in marine and land markets. Gasum,

BP, ExxonMobil, ConocoPhillips 'Quit' Alaska LNG Project

BP, Conoco Phillips, and Exxon Mobil said that the 65-billion dollar megaproject would be too unprofitable for them to move into the next phase of development.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Pipelines Salvage Ship Electronics Shipbuilding / Vessel Construction Winch
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: 0.0910 sec (11 req/sec)