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China's Fujian LNG terminal 50% complete: Xinhua
PLATTS
SINGAPORE
Petroleumworld.com 11 10 06
China's Fujian liquefied natural gas terminal project is more than 50%
complete with the raising of the roofs of its two storage tanks on Wednesday,
the official Xinhua news agency reported.
The Fujian terminal project is now on track for completion by end-2007,
said project leader China National Offshore Oil Corp.'s Vice-President Wu
Zhenfang, as reported by Xinhua.
Construction of the 2.6 million mt/year Fujian terminal began in April
2005. Its two LNG storage tanks, which have a capacity of 160,000 cubic meters
each, are built by US engineering firm CB&I.
In September, CNOOC signed an amended long-term LNG sale and purchase
agreement for supplies to Fujian from BP's Tangguh project in Indonesia. Under
the agreement, the Tangguh project will supply 2.6 million mt/year of LNG for
25 years from early 2009 to Fujian.
In the interim, before Tangguh supplies begin, CNOOC plans to procure LNG
from the spot market for the Fujian terminal.
The Fujian LNG project is a joint venture between CNOOC's wholly-owned
subsidiary CNOOC Gas & Power (60%) and local investment firm Fujian ZhongMin
Corp (40%).
- KimFeng Wong, kim_f_wong@platts.com
PLATTS 09 11 06Copyright© 2006 Platts. All Rights Reserved.
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