China National Offshore Oil Corp. (CNOOC) last month received approval from the National Development and Reform Commission for the country’s first LNG floating regasification and storage unit (FRSU), CNOOC reported on its web site.
The vessel will be moored in the Nanjiang area of the Tianjiin port on Bohai Bay. The 2.2-million tonne/year Phase 1 will cost nearly $5.9 billion and, besides the FRSU, include storage and pipelines. An 11-mile, 40-in. gas pipeline will extend between Tianjin Nanjiang port and Lingang Economic Zone.
Phase 2 will consist of a 6-million tpy land terminal (OGJ, Apr. 1, 2013, p. 90).
Contact Conglin Xu at [email protected].
Conglin Xu | Managing Editor-Economics
Conglin Xu, Managing Editor-Economics, covers worldwide oil and gas market developments and macroeconomic factors, conducts analytical economic and financial research, generates estimates and forecasts, and compiles production and reserves statistics for Oil & Gas Journal. She joined OGJ in 2012 as Senior Economics Editor.
Xu holds a PhD in International Economics from the University of California at Santa Cruz. She was a Short-term Consultant at the World Bank and Summer Intern at the International Monetary Fund.
