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LNG

CNOOC makes first play to provide import services

CNOOC sold its first regasification slot last month, marking an initial step by the state-owned explorer towards eventually providing import services at its LNG terminals CNOOC sold its first regasification slot last month, marking an initial step by the state-owned explorer towards eventually providing import services at its LNG terminals.
By Tang Tian 15 October 2018 0 32897
CNOOC will offer a slot at its Ningbo terminal this month. CNOOC will offer a slot at its Ningbo terminal this month. (CNOOC)

China National Offshore Oil Corp.’s (CNOOC’s) landmark sale of access to one of its LNG terminals last month marked the first move by the NOC towards becoming a provider of import services as it looks to tap demand for access to China’s state-owned oil and gas infrastructure.

Zhenhua Oil, a unit of state-owned defence contractor Norinco, and private logistics firm Longkou Shengtong Energy fended off 30 other bidders to win the slot at CNOOC’s 2 mtpa Yuedong terminal in Guangdong province. The auction...