CNPC to build LNG terminal in Shenzhen
China National Petroleum Corporation (CNPC), one of the country's three biggest oil and gas producers, acknowledged that it had started the construction of a liquefied natural gas (LNG) terminal in Shenzhen.
The southern city will be the first nationwide to have two LNG terminals, for China National Offshore Oil Corporation (CNOOC), another one on the Big Three list, has built such a terminal there.
CNPC will be responsible for the operation of the new terminal with a 51 percent stake, and its partners CLP Holdings Limited (SEHK: 0002) and Shenzhen Gas Corporation will respectively own 24.5 percent of the terminal, disclosed a publicity executive with the Hong Kong-listed company.
But the executive did not tell the capacity of the terminal located in the Dachan Bay and the time for its completion. LNG in the terminal will be sent to such areas like the southern province of Guangdong and its neighbor Hong Kong.
In fact, the terminal is to serve the country's West-to-East Natural Gas Transmission Project, and is part of the second West-to-East gas pipeline that is scheduled to start service wholly in late 2011.
The project, joining the northwestern Chinese port of Khorgos to Shanghai in East China and Guangzhou in South China, will pass through 15 domestic provinces, municipalities, and autonomous regions with a total length of 9,102 kilometers.
With an about CNY 142.2 billion investment, it is expected to transport 30 billion cubic meters of natural gas per year from Central Asia as well as Tarim, Junggar, and Ordos, three energy-rich basins in Northwest China, to eastern and southern Chinese areas.
Meanwhile, in order to get a sufficient supply, CNPC has signed LNG supply agreements with global giants like Total and Royal Dutch Shell Plc. Shell, Europe's biggest oil company, has clinched a two-decade deal to supply liquefied natural gas (LNG) of 2 million tons a year to China.
On November 24, 2008, Shell Eastern LNG under its wing just signed the deal with PetroChina International Co., Ltd., wholly-owned by PetroChina Co., Ltd. , the listed vehicle of CNPC.
Earlier reports said that the LNG supplies would partially come from the Gorgon gas project in western Australia, which was 25 percent owned by the European company and was still undergoing initial development.
Shell (China) Ltd. Chairman Lim Haw Kuang pointed out that the signing of the deal marked another important stride toward further cooperation between Shell and PotroChina.
The southern city will be the first nationwide to have two LNG terminals, for China National Offshore Oil Corporation (CNOOC), another one on the Big Three list, has built such a terminal there.
CNPC will be responsible for the operation of the new terminal with a 51 percent stake, and its partners CLP Holdings Limited (SEHK: 0002) and Shenzhen Gas Corporation will respectively own 24.5 percent of the terminal, disclosed a publicity executive with the Hong Kong-listed company.
But the executive did not tell the capacity of the terminal located in the Dachan Bay and the time for its completion. LNG in the terminal will be sent to such areas like the southern province of Guangdong and its neighbor Hong Kong.
In fact, the terminal is to serve the country's West-to-East Natural Gas Transmission Project, and is part of the second West-to-East gas pipeline that is scheduled to start service wholly in late 2011.
The project, joining the northwestern Chinese port of Khorgos to Shanghai in East China and Guangzhou in South China, will pass through 15 domestic provinces, municipalities, and autonomous regions with a total length of 9,102 kilometers.
With an about CNY 142.2 billion investment, it is expected to transport 30 billion cubic meters of natural gas per year from Central Asia as well as Tarim, Junggar, and Ordos, three energy-rich basins in Northwest China, to eastern and southern Chinese areas.
Meanwhile, in order to get a sufficient supply, CNPC has signed LNG supply agreements with global giants like Total and Royal Dutch Shell Plc. Shell, Europe's biggest oil company, has clinched a two-decade deal to supply liquefied natural gas (LNG) of 2 million tons a year to China.
On November 24, 2008, Shell Eastern LNG under its wing just signed the deal with PetroChina International Co., Ltd., wholly-owned by PetroChina Co., Ltd. , the listed vehicle of CNPC.
Earlier reports said that the LNG supplies would partially come from the Gorgon gas project in western Australia, which was 25 percent owned by the European company and was still undergoing initial development.
Shell (China) Ltd. Chairman Lim Haw Kuang pointed out that the signing of the deal marked another important stride toward further cooperation between Shell and PotroChina.