CNOOC Ready for Construction of Guangdong LNG Project

CNOOC is making great efforts to minimize the impact of SARS, to strive for the start of the construction of Guangdong Liquefied Natural Gas (LNG) Project as soon as possible.

The Feasibility Study Report (FSR) of Guangdong LNG Project has been submitted to the National Development and Reform Commission (NDRC) in April, and the 9th Partner's Steering Committee (PSC) has approved the French/Italian STTS Group to be the EPC contractor of the project. To ensure a on-schedule delivery of gas on June 1, 2006, the STTS Group was required to complete the construction of the receiving terminal and port within 37 months from the date of EPC award.

CNOOC has started early site preparation for the terminal on May 23, with the cooperation from the Shengzhen Planning Bureau, Land and Resources Bureau, Construction Bureau and the Logistics Department of Guangdong Military Zone.

The 10th PSC held a video conference in Beijing and Shengzhen on May 29th, to review the FSR, budget of the second quarter, EPC contract and early site preparation.

The director of the JEO expressed that the construction will kick off in full scale as soon as the FSR is approved by the state government.