CNOOC ap 壓鑄 proved to start LNG project in Zhejiang
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CNOOC approved to start LNG project in ZhejiangPublished: 09 Jul 2009 18:37:54 PST<p class="authorInfor"]</p]<!--begin CK content--]<ul class="narrow"]Top 5 News From ChinaKnowledge.comBYD's H1 sales surge 176% year on yearIBM Hong Kong to buy 20% equity interest in ISTCABC to offer RMB 50-bln credit line to Baosteel GroupGM raises China sales growth forecast to 20% for H2 2009China Merchants Securities may tie up with Capital Securities<P]Jul. 10, 2009 (China Knowledge) - CNOOC Ltd<0883><CEO>, an arm of China's largest offshore oil company, China National Offshore Oil Corp, on Jul. 9 announced that it has received approval from the National Development and Reform Commission (NDRC) to start building a liquid natural gas (LNG) terminal in Zhejiang Province, sources reported. </P]<P]CNOOC will invest RMB 7 billion in the first stage of the project, which will be put into operation in 2012 and will consist of three 160,000-cubic-meter storage tanks with a designed capacity of 3 million tons per year. The second stage will increase the capacity to 6 million tons a year. </P]<P]In the first phrase of the project, CNOOC intends to build a 38.7-kilometer gas pipeline with a designed transmission capacity of 4.2 billion cubic meters. The capacity will be expanded to 8.4 billion cubic meters in the second stage. </P]<P]In addition to the Zhejiang LNG project, China has another three LNG terminals which are located in Guangdong Province, Fujian Province and Shanghai. </P]<P]The LNG terminals in Guangdong and Fujian have gone into operation, and the Shanghai LNG terminal will be put into operation prior to the end of this year. </P]<P]Reportedly, CNOOC has hammered out a 20-year deal with BG Group to purchase 3.6 million tons of LNG annually from Australia's Gladstone project. <BR]</P]
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