China Begins Selecting Foreign Partner for LNG ProjectChina has started selecting a foreign partner for its first liquefied natural gas (LNG) project located in the southern coastal province of Guangdong, the project executive office announced Tuesday.The office will hold a pre-application conference for the purpose of selecting a foreign partner on August 8 in Beijing. The Chinese side welcomes applications from any interested overseas companies or consortiums. After one applicant is singled out as the foreign partner, a joint venture company will be set up to construct an imported LNG receiving terminal with an annual handling capacity of three million tons and a 400-km natural gas pipeline grid. According to the office, the terminal will be situated in Shenzhen and the gas grid will sprawl across the Pearl River Delta. The imported gas will first fuel households in Shenzhen, Foshan, Guangzhou and Dongguan and two gas-fired power plants in Shenzhen. The LNG terminal and pipeline project will cost around five billion yuan (about US$600 million). The Chinese side will take up a majority share of 70 percent with the rest going to foreign partners. The Chinese side comprises of the China National Offshore Oil Corporation, the Shenzhen Investment Holding Corporation, the Guangdong Electric Power Holding Company, the Guangzhou Gas Company, the Dongguan Fuel Industrial General Company and the Foshan Municipal Gas Management General Company. |
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