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    CNOOC Plans to Double LNG Import Capacity

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Summary

China National Offshore Oil Corp (CNOOC) is planning to double its LNG import capacity by 2015.

by: Shardul

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Asia/Oceania

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CNOOC Plans to Double LNG Import Capacity

China National Offshore Oil Corp (CNOOC) is planning to double its LNG import capacity by 2015.

According to the news agancy Reuters, CNOOC expects to add five liquefied natural gas (LNG) receiving terminals by 2015, taking its total capacity to 35-40 million tonnes per year (tpy).

The expansion from four terminals currently, with a receiving capacity of 18.7 million tpy, will enable China's top offshore oil explorer to import more LNG to meet strong demand growth in the country, the news agency reported.

The company imported nearly 11 million tonnes of LNG last year.

In August, CNOOC was granted approval by State Development and Reform Commission for construction of floating LNG terminal in Tianjin.

The Tianjin LNG project, the first floating LNG project in the country in China, is expected to cost 33 billion yuan or $539 million.

 

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