In a statement CNOOC official Liu Junshang said, “We’ve initially agreed to build a 4.6 billion yuan (US$556 million) LNG terminal on an island near Shanghai. The first phase will start operation in 2008, with designed annual capacity of three million tons.”
It is understood the deal will be officially signed next month and will be the firm’s fourth LNG operation in China.
Media reports had earlier indicated it was BP would be CNOOC’s partner in the project as it had contributed to two earlier CNOOC projects. BP had also, more than once, indicated its interest to take part in the Shanghai project.
