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CNOOC Seeks Approval to Develop LNG In China

China National Offshore Oil Corporation plans to develop a LNG-project in...

CNOOC Seeks Approval to Develop LNG In China

China National Offshore Oil Corporation plans to develop a LNG-project in north China's Hebei Province.

CNOOC Gas & Power Ltd. and the Hebei Provincial Development and Reform Commission have signed an agreement in principle.

Under the deal, studies will be conducted into market demand in Hebei and the source of gas supply for LNG development in the province.

A feasibility study will be made into the building of an LNG terminal in Hebei. With the approval of the National Development and Reform Commission, CNOOC plans to establish a company to build the terminal and its transmission pipelines, and will take a controlling stake in the venture.

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