Categories
Energy & Environment

BP consortium wins Fujian contract

A consortium that includes BP and the Indonesian oil and gas company Pertamina has signed an US$8.5bn contract with China National Offshore Oil Company to develop the huge Tangguh natural gas field in Indonesia, said the Financial Times. From 2006, gas from the field will be supplied to a terminal in Fujian province. Pertamina said that CNOOC had acquired a 12.5 per cent stake in the Tangguh project as part of the deal.

Earlier, this year, the consortium lost a US$13bn supply contract to supply a terminal in Guangdong province.

Cleaner power for Hebei A US$775m pumped storage power project is to be constructed in Hebei province, with US$144m in loans provided by the Asian Development Bank. The project will include the building of a 1,000MW plant at Zhanghewan in the Gantao River basin and a 63kmlong 500 kilovolt transmission line to transfer power to the Hebei South Power Grid.

The project will upgrade the rural electricity network and close 20 old and inefficient coal-fired generation units. Without the project, increasing power shortages in the province would have been likely.

Leave a Reply

Discover more from China Economic Review

Subscribe now to keep reading and get access to the full archive.

Continue reading