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23

CNOOC To Construct LNG Project

China National Offshore Oil Corp. said it had received government approval

China National Offshore Oil Corp. (CNOOC) said it had received government approval for the first phase of its 5.55 billion yuan (US$870.29 million) LNG project in Fujian Province on the south.

The company said that it would now begin construction under the project?s first phase. The start of the work is still unknown.

According to the company, the first phase includes building a terminal able to receive 2.6 million metric tons of LNG annually, a port which will be able to berth vessels with a storage capacity of 80,000-165,000 cubic meters, and four pipelines with a total length of 369 kilometers.