CNOOC to built 12 LNG carriers at Hudong Zhonghua Shipbuilding

China National Offshore Oil Company (CNOOC) placed 12 LNG carriers contract with Hudong Zhonghua Shipbuilding (part of CSSC). The contract is valued at 16 billion yuan ($2.42 billion). This is the largest investment and LNG shipbuilding project in China, CNOOC said in its media release.

China LNG imports have grown rapidly in recent years. In 2021, LNG imports reached 78.93 million tons, accounting for 65% of China's natural gas imports that year. This makes China the largest LNG importer.

The maximum LNG capacity of the newly built LNG carrier is 174,000 cbm. After vaporization, it will reach 108 million cbm of natural gas, which can be used by residents of Beijing for about 16 days. Twelve LNG carriers are scheduled to be delivered year by year from 2024 to 2027.

CNOOC is one of China's three largest state-owned oil companies, along with PetroChina and Sinopec.