Woodside Petroleum to lead bid for major LNG network in China

Jul 17, 2000 02:00 AM

Australian Woodside Petroleum said it will lead a bid to build a major LNG terminal and pipeline network in China.
The consortium, comprising the China-Australia Terminal Consortium (CATCO) and the KOGAS, is bidding to participate in a feasibility study with Chinese partners for a $ 500-600 mm LNG receiving terminal in Shenzuan city, in the Guangdong province in Southern China. The project, which also includes assessing a pipeline network around the Pearl River delta, will be completed in 18 months.
CATCO, led by Woodside, also includes Australian BHP and US Chevron. KOGAS has been constructing and operating LNG receiving terminals and pipeline networks in South Korea.

Woodside business development director Richard Beresford said the CATCO-KOGAS consortium offers a robust mix of LNG industry expertise, backed by Australia's gas resources and supply reliability. "The consortium offers world class expertise to what is a very important bidding process for China and offers reliability, integrity and performance excellence," he said.
Beresford also said the Australian consortium also brings to the project the support of the Australian Federal Government, the Western Australian Government and the Northern Territory Government.
The Guangdong LNG project will be China's first use of LNG as a fuel source for power generation and gas-fired industry in the region and is expected to set the scene for China becoming a major LNG importer for the future. The project will initially import 3 mm tpy of LNG from 2005.
The project will be the first time China has worked with foreign partners to import large quantities of natural gas. The project will be handled and will be handled through a Sino-foreign joint venture structure.

Source: Bridge News via Newspage
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