CNOOC to close LNG terminal bidding Nov. 24

A Chinese consortium led by China National Offshore Oil Corp. will close the bidding to build China's first liquefied natural gas terminal Nov. 24. The consortium issued the bidding package for the terminal to be built in Guangdong province at the end of October to a shortlist composed of three consortia and BP bidding alone.

Nov. 10, 2000

BEIJING�A Chinese consortium led by China National Offshore Oil Corp. will close bidding Nov. 24 for propals to build China's first liquefied natural gas terminal.

In late October, the Chinese invited BP and three industry consortia to bid on the Guangdong province terminal.

The consortia are: China Australia Terminal Corp.-Korea Gas Corp.; Exxon Mobil Corp.-Hong Kong China Light Power-Chubu Electric Power Co.; and Royal/Dutch Shell Group-Marubeni Corp.-Osaka Gas Co. Ltd.

Early next year, the winning bidder and the CNOOC consortium will start an 18-month feasibility study of the $600 million LNG project. They would establish a joint venture later.

The timetable calls for construction to begin in 2002 and end in 2005.