CNOOC to develop Shanghai LNG terminal

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.

Jan. 18, 2005

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%.