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China proceeds with country’s first floating LNG project

19th August 2013

China’s government has given approval to CNOOC to construct the country’s first floating liquefied natural gas terminal

China proceeds with country’s first floating LNG project
The floating LNG terminal will ensure fast supplies for the company and shorten the construction period for its onshore LNG project

China’s government has given final approval to China National Offshore Oil Corporation (CNOOC), China's largest offshore oil and gas producer, to start the construction of the BRIC country’s first floating liquefied natural gas (LNG) project, according to reports.

 

The floating LNG terminal will be located in North China's Tianjin Municipality. It will ensure fast supplies and shorten the construction period for CNOOC’s Tianjin LNG project by up to four years. The terminal is expected to supply three billion cubic meters of gas each year, according to the company.

 

CNOOC said it will expand its LNG project in Tianjin by building more conventional LNG terminals, once the floating terminal is completed.

 

The conventional terminals are expected to expand output and enable the company to store, regasify and supply natural gas to markets near Tianjin, including Beijing and the provinces of Hebei and Shandong, according to reports.

 

The news follows GDF Suez announcing cooperation with CNOOC on China’s first floating LNG project.  The French multinational company signed an agreement with CNOOC in April this year, to provide a floating storage and regasification unit (FSRU) for LNG.