China’s CNOOC mulls over two more LNG terminals in Guangdong

02 July 2012 09:35  [Source: ICIS news]

SINGAPORE (ICIS)--China National Offshore Oil Corp (CNOOC) is expected to obtain approvals for two receiving terminals for liquefied natural gas (LNG) imports in Guangdong province in south China in July, a source close to the company said on Monday.

The company will have four LNG terminals in Guangdong if China’s energy watchdog, the National Development and Reform Commission (NDRC), approves the projects in July, the source said.

CNOOC is currently running its 6.7m tonne/year terminal at Shenzhen, with its 3.5m tonne/year terminal at Zhuhai scheduled to come on stream in 2013, market sources said.

Guangdong has seen rapid growth in gas consumption and is expected to consume 30bn-43bn cbm/year of natural gas by 2015, according to Guangdong’s 12th Five-Year (2011-2015) Plan on energy development.

CNOOC, one of the three major national oil companies in China, is focused on the exploitation, exploration and development of crude oil and natural gas offshore of China.

By: Ricki Wang
+65 6780 4359

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