Investment in the project, including an LNG receiving terminal, a dock to accommodate imported LNG, and a gas trunk line, adds up to $520 million.
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China To Construct Profitable LNG Project
The China National Offshore Oil Company has set up a joint venture with local partners
The China National Offshore Oil Company has set up a joint venture with local partners to build a LNG project in Zhejiang Province, East China.
The joint venture will build the plant in Ningbao to receive 3 million tons of imported LNG a year. The terminal will turn the liquid back into gas to supply a 2,800 megawatt gas power plant in which CNOOC holds a 30 per cent stake.
Investment in the project, including an LNG receiving terminal, a dock to accommodate imported LNG, and a gas trunk line, adds up to $520 million.
Investment in the project, including an LNG receiving terminal, a dock to accommodate imported LNG, and a gas trunk line, adds up to $520 million.
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