CNOOC subsidiary considers LNG development in British Columbia

CNOOC Ltd.’s wholly owned subsidiary Nexen Energy ULC has reached an agreement with British Columbia to examine the viability of building an LNG plant and export terminal at Grassy Point near Prince Rupert.

CNOOC said the agreement with British Columbia’s Ministry of Forests, Lands, and Natural Resource Operations gives Nexen and joint venture partners Inpex Corp. and JGC Corp. the ability to pursue long-term access to Crown land at Grassy Point.

“LNG export is the most attractive option for maximizing the value of our Canadian shale gas business,” stated Li Fanrong, CNOOC’s chief executive officer.

CNOOC said the decision on whether to proceed with development depends on several internal and external approvals, such as financial attractiveness, which consists of cost estimates, fiscal terms, and obtaining acceptably-priced sales agreements.

Nexen said it plans to conduct a site viability review, comprehensive environmental impact assessment, and stakeholder consultation.

CNOOC said on Nov. 12 it would buy an additional 40% of the BG Group-operated Queensland Curtis Island coal seam gas-LNG project for $1.93 billion, giving the company 50% interest total in Train 1 (OGJ Online, Nov. 12, 2013).

Related Articles

NGSA asks Congress to pass bills facilitating LNG exports

03/27/2014 The Natural Gas Supply Association called on Congress to support legislation that would facilitate more LNG exports. “Exporting LNG overseas will h...

US, European energy leaders to discuss gas diversification measures

03/27/2014 Top US government energy officials and their counterparts from other G7 nations will meet early next week to discuss reducing Europe’s heavy relian...

Santos buys gas reserves for Queensland LNG plant

03/27/2014 The WestSide Corp.-Mitsui joint venture has been let a contract to supply gas to the Santos Ltd.-led Gladstone LNG project for 20 years beginning i...

Total, CNOOC sign LNG cooperation agreement

03/26/2014 Total SA and China National Offshore Oil Corp. (CNOOC) have reached an LNG cooperation agreement that will expand upon the companies’ existing 15-y...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected