Regional LNG: CNOOC to buy Malaysian LNG for Shanghai

China National Offshore Oil Corp., parent of overseas-listed Cnooc Ltd., said it has reached an agreement to buy liquefied natural gas from Malaysia. agency reported.

China National Offshore and the Malaysian government have

agreed on the supply of the fuel to a planned receiving terminal in Shanghai, Zhou Shouwei, president of Cnooc said in Hong Kong.

The terminal, which will receive 3 million metric tons a year of LNG, is scheduled to start operating in 2008.(*)