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Cross-country drive on 2 gallons of gas
BEIJING, Jan. 22 (UPI) -- China National Offshore Oil Corp. said it has started building two new gas storage tanks.
The two new tanks will be located at CNOOC's Fujian liquefied natural gas terminal and are expected to be completed in 2011. The additional storage will boost the terminal's capacity to 640,000 cubic meters, the Xinhua news agency reported.
Phase I of the Fujian LNG terminal includes two new gas storage facilities, three gas-fired power plants in Putian, Jinjiang and Xiamen, as well as distribution facilities in Fuzhou, Putian, Quanzhou, Xiamen and Zhangzhou.
CNOOC is also in negotiations with Iran for the supply of gas, but it's unknown when any agreement will be reached.
"The talks are ongoing, but there is no timetable for concluding a deal," said Liu Junshan, a CNOOC representative.
The deal could be for as much as 10 million tons of liquefied natural gas supplied to three terminals. A memorandum of understanding was signed early last year worth $6 billion.
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