Manufacturing Industry
CNOOC's gain and loss in the aspect of LNG.(Hainan Development Holdings Corporation, China National Offshore Oil Corp.)(Brief Article)
China Chemical Reporter, December, 2005
On November 18th, China National Offshore Oil Corporation (CNOOC) and Hainan Development Holdings Corporation signed a contract regulation to establish a joint venture of CNOOC Hainan Natural Gas Co. Ltd., and invested RMB5.6 billion to construct Hainan liquefied natural gas project.
After the project is completed, it will satisfy the natural gas demand of Hainan province in the next 25 years theoretically. CNOOC and Hainan Development Holdings Corporation hold 65% and 35% of the joint venture's shares respectively. After the establishment of CNOOC Hainan Natural Gas Co. Ltd, it will mainly be responsible for the construction and operation of Hainan liquefied natural gas project. According to estimation, the total investment of the project is RMB5.6 billion...
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