27 Sep 2007 | 01:13 AM ET
BEIJING (XFN-ASIA) – PetroChina Co Ltd (HK 0857), the country’s largest oil and gas producer, has started building a liquefied natural gas (LNG) project in Dalian, in northeastern China’s Liaoning province, the Dalian Daily reported.
The project includes an LNG terminal, a wharf and a gas pipeline, and will involve a total investment of over 10 bln yuan, the paper said.
Of the total, the LNG terminal will require investment of 6.86 bln yuan. It has initial receiving capacity of 3 mln tons per year.
Phase II of the terminal is expected to boost the receiving capacity to 6 mln tons per year.
No details were provided on bringing the project into operation.
Earlier this month, Royal Dutch Shell PLC signed a binding agreement to supply liquefied natural gas from the Gorgon field in Australia to PetroChina International Co Ltd.
At the same time, Australia’s leading oil and gas company Woodside Petroleum also reached an agreement to supply PetroChina with LNG from its Browse gas field off the coast of Western Australia, in a deal worth 35-45 bln aud.
PetroChina also plans to build LNG terminals in eastern China’s Jiangsu province and Caofeidian in northern China’s Hebei province.
(1 usd = 7.51 yuan) [email protected] – xfnkz/xfntm COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved.
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