CNOOC parent snares more LNG mandates

Sealing its dominance in China's developing Liquefied Natural Gas market, China National Offshore Oil Corp signed two preliminary agreements with provincial governments to invest RMB20bn (US$2.4bn) to build two liquefied natural gas (LNG) terminals in Jiangsu and Liaoning provinces. The company has already won similar mandates in Shenzhen, Fujian and Zhejiang, and has secured letters of intent for projects in Tianjin, Shantou and Shanghai. The terminals take in imported and locally supplied LNG and re-gasify it to pipe to energy and industrial users and consumers. The RMB15bn Jiangsu project calls for building 328km of pipeline and power plants comprising eight 300 megawatt capacity generators.