May 15, 2009 / 11:10 AM / 10 years ago

China's CNOOC to build gas terminal in Zhuhai -OGP

BEIJING, May 15 (Reuters) - China National Offshore Oil Corp. (CNOOC), China’s largest offshore oil producer, plans to build its South China Sea natural gas terminal in the coastal city of Zhuhai, the Xinhua-run newsletter OGP said on Friday.

CNOOC, parent of CNOOC Ltd (0883.HK) (CEO.N), signed a framework agreement with the local government early this month and plans to invest in a host of projects including the construction of the South China Sea gas terminal and a production base for deepwater offshore engineering equipment.

Local media have put the investment at about 20 billion yuan ($29.3 million).

CNOOC has already built a natural gas terminal in Hengqin Island in the southern part of Zhuhai and has set up a LNG receiving terminal at the city’s Gaolan port, OGP said.

CNOOC will also buy 3.6 million tonnes of liquefied natural gas per year from BG Group Ltd’s BG.L proposed Australian plant from as early as 2014, the companies said this week. (Reporting by Eadie Chen and Tom Miles; Editing by Hans Peters) (eadie.chen@thomsonreuters.com; +8610 6627 1268; Reuters Messaging: eadie.chen.reuters.com@reuters.net))

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