China National Offshore Oil Corporation (CNOOC) plans to invest 8.38 billion yuan (US$1 billion) in three new projects in south China's Hainan Province. With the completion of these projects, CNOOC's supply of gas will exceed 5 billion cubic meters by 2008. Hainan is expected to become one of the important petrochemical bases in China by 2008.
The three projects will include a liquefied natural gas (LNG) infrastructure project in Hainan, at a cost of 7.5 billion yuan. The LNG project will require construction of stations to receive store LNG, supporting gas-fueled power plants and pipelines encompassing the island of Hainan. billion yuan.
21-Apr-05 
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