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¡¡¡¡BEIJING, June 23 -- Top Asian oil refiner Sinopec Corp. said Thursday it is
in early discussions to build a liquefied natural gas (LNG) terminal in the
southern Chinese city of Zhuhai.
¡¡¡¡Sinopec is vying with CNOOC Group, which is leading a race to build a
string of LNG termina
ls along coastal China, as the government aims to boost the
country¡¯s use of cleaner gas to 8 percent of its energy mix by the end of this
decade.
¡¡¡¡If it goes ahead, Sinopec¡¯s terminal would be the second LNG terminal in
Guangdong Province. The first is in Shenzhen, which received China¡¯s first
imported cargo of the super-cooled, compressed gas from Australia¡¯s North West
Shelf in May.
¡¡¡¡Sinopec did not specify an investment amount but LNG terminals are often
expensive affairs, involving spending of about US$1 billion or more.
¡¡¡¡¡°We are still in negotiations with the Macao SAR Government,¡± Sinopec¡¯s
investors relations executive Huang Wensheng told reporters.
¡¡¡¡Beijing-based Sinopec had received initial approval to build LNG terminals
in Shandong in eastern China.
¡¡¡¡(Source: Shenzhen Daily/Agencies)¡¡
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