China Gas Report
Oman seals CNOOC gas deal
Oman has signed a deal to sell liquefied natural gas to China National Offshore Oil Corporation (CNOOC), an Omani daily newspaper reported today. e Oman Observer said Qalhat LNG signed a master sale and purchase agreement, but gave no further details, according to a Reuters report.
Qalhat LNG has capacity to produce around 3.3 million tones per year, a third of Oman's 10 million LNG capacity. Some of that capacity has lain idle as the country has prioritized meeting domestic demand above export commitments. Qalhat LNG is 46.84% owned by the government of Oman, 36.8% owned by Oman
LNG and 7.36% owned by Union Fenosa Gas. e rest is held by Japanese companies.
Oman, like its neighbors in the world's top oil-exporting region, has seen gas demand surge as an economic boom feeds both power consumption and industrial growth.
Hong Kong CLP took delivery of LNG from BG
CLP Holdings Ltd, Hong Kong's biggest power utility, will take delivery of liquefied natural gas from supplier BG Group Plc because of increased demand even as a plan to build a terminal in the city has been scrapped. CLP may receive BG's LNG cargoes in China's mainland instead, Lam said.
CLP won't pursue a plan to build a $1-billion LNG terminal in Hong Kong with Exxon Mobil Corp after the city's government secured energy supplies from the mainland. BG LNG Trading was to deliver 1 million metric tons a year to the proposed terminal for 20 years starting in 2013.
Hong Kong and the mainland will jointly develop an LNG terminal in nearby Shenzhen on the mainland as one of three gas supply options for the territory, according to a memorandum of understanding signed last month.
Sinopec may win bid for Tanganyika oil
China Petrochemical Corp. may acquire Tanganyika Oil Co. Ltd. with a bid worth more than $1 billion, the South China Morning Post reported, citing people the newspaper didn't identify.
e bid by the company known
as Sinopec looks set to exceed an
offer by India's Oil & Natural Gas Corp., the Hong Kong newspaper said today. ONGC has indicated it won't raise its bid, the Morning Post reported, without elaborating.
Tanganyika, listed in Toronto and Stockholm, is an oil and natural-gas producer with operations in Syria
and Egypt. China Petrochemical, Asia's biggest oil refiner, is the parent of Hong Kong-listed China Petroleum & Chemical Corp.
China CIMC says to buy control of Luxembourg's TGE
China International Marine Containers (Group) Co (CIMC), the world's largest shipping container maker, said it had agreed to buy 60 percent of Luxembourg's TGE Gas Investment SA for 20 million euros ($31.23 million).
CIMC 200039.SZ will buy the stake in TGE Gas, a contractor
for liquefied natural gas terminal projects, from Gasfin Investment SA, it said in a statement.
It will pay an additional 5 million euros annually to Gasfin in 2009 and 2010 if the TGE Gas reaches its performance targets, the statement said, without elaborating.
e acquisition, subject the approval
of the Chinese government and regulators in Europe, will help improve the business chain of CIMC, which has already engaged in the LNG transportation business, it said.