PetroChina has also signed a LOI with the local governments of Liaoning and Jiangsu to set up LNG terminals there after CNOOC had recently announced it would sign preliminary agreements for LNG projects in both those provinces.

“The agreement with the Guangxi autonomous region, in southern China, calls for PetroChina to build a 5.92 billion yuan (US$715 million) facility to receive natural gas from overseas and transport it inland,” the newspaper reported.

“Details on the firm’s target completion date for the Guangxi terminal, the shareholding structure, customer targets and potential gas sources are not provided [but] PetroChina has also signed preliminary agreements of intent with the provincial governments of Jiangsu and Liaoning for LNG terminals that will put it in direct competition with CNOOC.”