Skip to main content

Phoenix Petroleum and CNOOC partner on LNG terminal project

Published by
LNG Industry,

Reuters is reporting that the Philippine fuel retailer Phoenix Petroleum has agreed to partner with a subsidiary of China’s National Offshore Oil Corp (CNOOC) to explore the possibility of building a LNG receiving terminal in the Philippines.

The Philippines is reportedly seeking investors to build a storage and distribution facility for imported LNG. There is renewed enthusiasm for LNG in the country as it moves to replace its Malampaya gas reserves which are expected to be depleted by 2024.

Phoenix Petroleum has claimed it has signed a memorandum of understanding (MOU) with CNOOC Gas and Power Group Co Ltd, and recently announced, to the Philippine Stock Exchange, that the two companies had agreed to ‘study, plan, and develop’ an LNG project in the Philippines.

The financial terms of the deal have not been released.

CNOOC have not commented.

Read the article online at:

You might also like

Kabel Schlepp

WEBINAR - Key criteria to ensure proper selection of a cable drag chain

In this webinar KabelSchlepp will review and discuss the items needed to ensure that a cable track is properly selected and sized for the user’s application. How diameters and weights of the fill package effect cable track selection and how the jacket material of the fill package influences the cable track design. Register for free today »


Gazprom to pursue LNG over shale gas

Gazprom has decided to focus on LNG over shale gas moving forward, in light of the projected global growth prospects of both industries.


Embed article link: (copy the HTML code below):


This article has been tagged under the following:

LNG project news LNG import news China LNG news


LNG Industry is not responsible for the content of external internet sites.