Arab Today, arab today cnooc bg group sign natural gas contracts
Last Updated : GMT 14:03:39
Arab Today, arab today
Arab Today, arab today

CNOOC, BG Group sign natural gas contracts

Arab Today, arab today

Arab Today, arab today CNOOC, BG Group sign natural gas contracts

Beijing - XINHUA

China\'s largest offshore oil producer announced on Monday that it has inked an agreement to buy liquefied natural gas (LNG) from BG Group and increased its stakes in an LNG project in Australia. Under the contract, the China National Offshore Oil Corporation (CNOOC) will purchase five million tonnes per annum (mtpa) of LNG, starting in 2015, from BG Group\'s global LNG portfolio for 20 years. By then, the CNOOC\'s mid-and-long-term LNG contracted volumes will reach 21.6 mtpa, the company said in a statement on its website. The CNOOC will also acquire a 40-percent equity interest in QCLNG Train 1, increasing its equity ownership from 10 percent to 50 percent at a cost of 1.93 billion U.S. dollars. It will acquire a 20-percent equity interest in the reserves and resources of certain BG Group tenements in the Walloons Fairway region of the Surat Basin, Queensland, increasing its equity ownership from 5 percent to 25 percent. It will acquire a 25-percent equity interest in certain other upstream tenements held by BG Group in the Surat and Bowen Basins, Queensland. The CNOOC and BG Group will also jointly invest in building two more LNG transportation ships in China. Those transactions will be completed by the end of this year. Wang Yilin, chairman of the CNOOC, said, \"These new agreements with BG Group will not only substantially enhance the partnership in QCLNG and further the cooperation in the field of LNG between both parties, but also significantly facilitate the construction of CNOOC\'s overseas production base of LNG.\" \"CNOOC will continuously strive to acquire competitive natural gas resources around the world, and to make positive contributions to developing China\'s natural gas industry and securing clean energy supply to China,\" he added. The CNOOC imported 11 million tonnes of LNG in 2012. Currently, it operates 4 LNG receiving terminals in Guangdong, Fujian, Zhejiang and Shanghai. It is constructing Zhuhai, Hainan, Shenzhen and other LNG receiving terminals, which will be commissioned in the coming years.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today cnooc bg group sign natural gas contracts Arab Today, arab today cnooc bg group sign natural gas contracts

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday