1 Sep 2010 12:53

CNOOC inks gas agreement with Guangdong pipeline operator

Shanghai. September 1. INTERFAX-CHINA - CNOOC Gas Power Group Ltd., a subsidiary of China National Offshore Oil Corp. (CNOOC), signed a gas purchase and supply agreement with Guangdong Provincial Natural Gas Pipeline Corp. (Guangdong Gas) on Aug. 26, Guangdong Gas announced in a newsletter on Aug. 31.

According to the newsletter, CNOOC Gas Power will sell all its gas products and output from CNOOC's offshore gasfields, including liquefied natural gas (LNG), to Guangdong Gas to supply the market in Guangdong Province.

Wang Ge, general manager of Guangdong Gas, said in the newsletter that the deal is a strong indicator of the company's recent progress. Last year, Guangdong Gas signed an agreement with China Petrochemical Corp. (Sinopec Group) to purchase and supply gas from Sichuan Province.

Guangdong Gas was jointly established in March 2008 by CNOOC, Sinopec Group and Guangdong Yudean Group Co. Ltd. to handle gas distribution in Guangdong for the provincial government.