China's leading liquefied natural gas (LNG) developer CNOOC Ltd has started building its fourth regasification terminal to bring gas from tankers to domestic markets, the head of the firm said on Thursday.
Asked about progress on the terminal at Ningbo, CNOOC General Manager Fu Chengyu said: "We have started construction."
CNOOC won government approval for the project in July. The terminal will be able to take 3 million tonnes of the fuel a year when it is ready in 2012, and 6 million tonnes a year in a later second phase. The first phase will cost around 7 billion yuan ($1.03 billion).
Asked about progress on the terminal at Ningbo, CNOOC General Manager Fu Chengyu said: "We have started construction."
CNOOC won government approval for the project in July. The terminal will be able to take 3 million tonnes of the fuel a year when it is ready in 2012, and 6 million tonnes a year in a later second phase. The first phase will cost around 7 billion yuan ($1.03 billion).