Shenzhen Nanshan Power announced on Saturday that it plans to sign a contract to purchase LNG from China National Offshore Oil Corp.’s (CNOOC’s) subsidiary in Guangdong province for the next five years.
The contract stipulates that Nanshan will purchase a fixed 8.03 million gigajoules of LNG every year from 2013 to 2017, and a negotiable volume no larger than 30% of the fixed amount.
The contract will help Nanshan secure gas sources for the next few years, maintain present operations, and drive sustainable development of the company,...
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