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| China CNOOC Plans New LNG Terminal In Guangdong Province |
| News Archive - Oil, Gas & Petrochemicals - September news | |
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(ChinaOilweb, Sept 29, 2006) China National Offshore Oil Corp. said Friday it plans to build a liquified natural gas terminal that will operate by 2010 in Zhuhai, China, with a mainland partner. CNOOC said it will build the LNG terminal along with Guangdong Yue Dian Corp., a power generator. CNOOC President Fu Chengyu said the recent drop in crude oil prices to the low US$60 range this month from US$78 in July won't affect operations. CNOOC had planned its operations based on a US$45 oil price, Fu said after an extraordinary general meeting of the company's listed unit CNOOC Ltd. (CEO) Both the CNOOC parent and Guangdong Yue Dian are state-owned companies. source:ChinaOilWeb |
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