CNOOC Deals with Canadian LNG Terminal
Posted: 11/13/2013 06:11:27 Edited: 11/13/2013 05:11:13 Clicks: 1231
CNOOC, which is the largest oil producer in China, has signed a contract with the British Columbia local government for liquefied natural gas terminal in Canada.
The announcement in Tuesday is a step to closely getting in touch and develops the Aurora project. Though some issues must be dealt such as the joint venture with Japan's Inpex Corp and JGC Corp is still waiting to regulatory agreement.
A chief executive from Nexten said that they will spare no efforts on developing one LNG facility and exporting terminal at Grassy Point.
This is a very cherish opportunity leading to these three joint ventures to success contributed to their professional knowledge, considerable financial status and their responsible attitude. They can be easily accessible to Asian market due to their regional priority.
Although British Columbia has put the most focus on the oil and gas industry as its key development, and eager to exploit widen natural gas market in Asian. But actual there are no LNG export terminals in Canada.
As global economy struggling to recover, this only opportunity on B.C can turn the reverse situation and supply 100,000 new jobs in the whole province.
So far, three projects in the Kitimat area, south of Grassy Point, have been granted exports licenses. But other fives are faced with the federal energy regulators approval. Yet investments measures have not decided.
The province is also faced with the outlining of a new gas export tax regime task, which can speed up the development of energy giants like CNOOC, Royal Dutch Shell PLC and Chevron Corp due to the slowly movement.
British Columbia publicly held a call about the development suggestion for Grassy points which covers more than 1,500 km. Now the government is also regulating three rules for the nearby land.
CNOOC has been partially in charge of Nexen which is one of the largest oil producers and hold gas shares in the province at a value $15.1 billion.
