China CNOOC to double LNG imports by 2020

BEIJING (Commodity Online) : China s largest offshore oil producer, CNOOC Ltd is is planning to import 30 million tons of liquefied natural gas in 2020.
CNOOC, which was the first Chinese company to become involved in the LNG business, is expected to import 16 million tons of LNG in 2010.
The company will further boost LNG imports to develop more clean energy and fight climate change, said Fu, adding that currently the firm is involved in other clean energy businesses, including offshore wind power, urban fuel gas and clean energy vehicles.
CNOOC will also focus on coal-based clean energy development.
CNOOC said last week that it has discovered oil in the eastern part of Bohai Bay. It was able to extract 540 barrels per day at a new well in the Penglai 9-1 block, the offshore oil producer said in a statement filed with the Hong Kong Stock Exchange.
The new discovery opens new prospects for oil exploration in the Bohai Bay, analysts said.