The Centre is involved in the planning of the project. Phase two will see the contruction of 135,000 cubic metre LNG storage tank, the building of an LNG power plant and expansion work on an existing power facility.
In a statement Li said, “The local government and China National Offshore Oil Corporation (CNOOC) are stepping up efforts for preparation of the second phase of the project [and] construction of the second phase of the LNG project might start one year ahead of the scheduled 2007.”
Li also brushed aside concerns on the additional LNG supplies from the terminal’s Australian supply source which will now be needed. He believes the operators of the terminal will import more LNG.
“CNOOC has agreed to buy 3.25 million tonnes of LNG from Australia’s North West Shelf gas project for the first phase, but the agreement will also allow CNOOC to buy 5% more of the agreed volume [and] LNG demand for the first phase is already exceeding earlier planned volumes,” said Li.
“CNOOC will import 3.7 million metric tonnes of LNG from Australia annually from 2006, instead of the previously-envisaged 3.25 million tonnes,” he added.
