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CNOOC considering opening up LNG terminals

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LNG Industry,

According to the latest Reuters report, China’s CNOOC is currently holding talks with independent companies regarding access to its LNG import facilities. These talks follow the company trialling a short lease period last year.

China’s government is reportedly considering plans to form a national pipeline company by pooling assets from state energy companies. The reform aims to boost private investment and increase the usage of natural gas a cleaner fuel.

As a significant investor in gas terminals and storage tanks, CNOOC could see its assets allotted to the pipeline group, which is expected to be launched later this year.

It is understood that CNOOC is holding these latest talks on the basis of offering pipeline developers like ENN Energy, as well as LNG distributors such as Longkou Shengtong Energy, the opportunity to use its LNG facilities for a 10-year period. A limited number of slots would be offered across the year.

This venture holds an incentive of tens of millions of dollars of relatively risk-free revenue for CNOOC.

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LNG project news LNG import news Natural gas news China LNG news


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