Pacific Oil & Gas will build LNG plant in China
Monday, May 23 2005 - 01:03 AM WIB
Pacific Oil & Gas, a subsidiary of RGM International, along with PetroChina will develop an LNG (liquefied natural gas) receiving terminal in China's province of Jiangsu, the Bisnis Indonesia and the Investor Daily Indonesia newspapers reported in their Monday edition.
The project has already obtained the permission from the National Development Reformation Committee (NDRC, the papers said, quoting state news agency Antara.
The terminal will be built in Rudong, Jiangsu province, Antara quoted Chinese electronic media.
PetroChina will have 55 percent stake, Pacific 35 percent and Jiangsu Guoxin 10 percent in the 6 billion RMB project.
Pacific Oil & Gas has acquired a 25 percent stake in Jambi Merang oil and gas block in Indonesia last year.(*)