By OGJ editors
HOUSTON, Jan. 18 -- China National Offshore Oil Corp. subsidiary CNOOC Gas & Power Ltd., Hong Kong, and electric power company Shenergy Group Ltd., have formed Shanghai LNG Co. Ltd. to develop an LNG terminal at Shanghai.
The facility, which will contain a receiving terminal, dock, and storage tanks, along with a subsea gas transmission pipeline, will be designed with an ultimate capacity of 6 million tonnes/year of LNG.
The terminal is scheduled to begin operations in 2008 under Phase I, in which it will have an initial design capacity of 3 million tonnes/year.
Shenergy Group, Shanghai, owns 55% of the new company, and CNOOC holds the remaining 45%.
