China’s CNOOC builds CNY6.5bn LNG project at Hainan

03 August 2011 07:22  [Source: ICIS news]

GUANGZHOU (ICIS)--China National Offshore Oil Corp (CNOOC) has started construction of a yuan (CNY) 6.5bn ($1bn) liquefied natural gas (LNG) project on 2 August at Yangpu in Hainan province, the company announced on Wednesday.

The project consists of a 3m tonne/year receiving terminal, a 3,000 dwt (deadweight tonne) jetty and a 133km-long pipeline, according to the statement.

Two LNG storage tanks, each with a capacity of 160,000cbm (cubic metres), will also be built at the terminal.

The terminal is expected to start operations in August 2014 with an initial capacity of 2m tonnes/year. The remaining 1m tonne/year capacity will be brought on stream in 2016, it said.

The terminal will primarily supply LNG to users in Hainan, Guangdong and Guangxi provinces, according to CNOOC.

CNOOC has five other LNG projects in China, which are located at Shenzhen, Fujian, Shanghai, Zhejiang and Zhuhai (Guangdong). The first three are already in operation.

The oil and gas major sold over 9m tonnes of LNG in 2010 via those terminals, the statement said.

($1 = CNY6.44)

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By: Fanny Zhang
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