CNOOC To Increase LNG Tanks Number

China National Offshore Oil Corp. said its Guangdong liquefied natural gas terminal has received government approval to add a third storage tank with a capacity of 160,000 cubic meters.

The first phase of the project, which has an annual capacity of 3.7 million metric tons, is expected to start trial operations in June 2006.

The terminal now has two storage tanks, each with a capacity of 160,000 cubic meters.

"The addition of the third storage tank is to provide safe and reliable supply of gas to the booming natural gas market in Guangdong," it said.

China's largest offshore oil producer, owns a 33 percent stake in the first LNG terminal in China, while oil giant BP PLC owns another 30 percent.