Posted - Wednesday, 14 August 2013 | 16:30- Hellenic Shipping News Worldwide
China National Offshore Oil Corp. has received final government approval
for its floating LNG project in China's eastern port city of Tianjin,
the company said Wednesday.
This will be China's first floating and regasification unit, with a
total investment of Yuan 3.3 billion ($539 million) for the first phase,
CNOOC said.
The LNG import project received approval from the National Development and Reform Commission on July 26.
The first phase of the project comprises a floating, storage and
regasification unit, an accompanying berth and two 30,000 cubic meter
storage tanks. It will have an LNG receiving capacity of 2.2 million
mt/year, roughly equivalent to 3 billion cubic meters/year of natural
gas, the company said.
A second phase could see capacity expanded to at least 6 million
mt/year, CNOOC said. It did not specify timelines for the commissioning
or expansion.
In April this year, CNOOC and France's GDF Suez formalized a 2011
agreement, under which GDF Suez will provide CNOOC with a floating
vessel to receive LNG in Tianjin. GDF Suez's 145,000 cu m Cape Ann LNG
regasification vessel will be sub-chartered by CNOOC from October this
year for up to five years, the French company said then.
GDF Suez also has a contract to deliver a total 2.6 million mt of LNG to
CNOOC over 2013-2016. It is not clear if supplies have begun.
Source: Platts
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