Regional LNG: CNOOC aims to develop LNG project in Hebei province
Tuesday, June 15 2004 - 12:45 PM WIB
CNOOC Gas & Power Ltd. and the Hebei Provincial Development and Reform Commission sealed the deal in Beijing, according to CNOOC's official publication Zhongguo Haiyang Shiyou Bao.
Under the deal, studies will be conducted into market demand in Hebei and the source of gas supply for LNG development in the province.
If the commercial value of the project can be corroborated, a preliminary feasibility study will be made into the building of an LNG terminal in Hebei. The proposal will be submitted to the National Development and Reform Commission (NDRC).
Once approval from the NDRC for the project is granted, CNOOC plans to establish a company to build the terminal and its transmission pipelines, and will take a controlling stake in the venture.
As Interfax previously reported, CNOOC entered into a framework agreement on building an LNG terminal in Tianjin, which is close to Hebei, in March this year. The project aims at feeding the growing energy demand along the Bohai Bay coast.
Besides the two terminals under construction in southern China's Guangdong and Fujian provinces, more LNG development projects are being planned in eastern China, including ones in Shanghai, Jiangsu, Zhejiang and Shandong. CNOOC has signed an agreement in principle to develop a liquefied natural gas (LNG) project in north China's Hebei Province.
CNOOC Gas & Power Ltd. and the Hebei Provincial Development and Reform Commission sealed the deal in Beijing, according to CNOOC's official publication Zhongguo Haiyang Shiyou Bao.
Under the deal, studies will be conducted into market demand in Hebei and the source of gas supply for LNG development in the province.
If the commercial value of the project can be corroborated, a preliminary feasibility study will be made into the building of an LNG terminal in Hebei. The proposal will be submitted to the National Development and Reform Commission (NDRC).
Once approval from the NDRC for the project is granted, CNOOC plans to establish a company to build the terminal and its transmission pipelines, and will take a controlling stake in the venture.
As Interfax previously reported, CNOOC entered into a framework agreement on building an LNG terminal in Tianjin, which is close to Hebei, in March this year. The project aims at feeding the growing energy demand along the Bohai Bay coast.
Besides the two terminals under construction in southern China's Guangdong and Fujian provinces, more LNG development projects are being planned in eastern China, including ones in Shanghai, Jiangsu, Zhejiang and Shandong.(*)