CNOOC Receives Qatar LNG Shipment

State-owned China National Offshore Oil Corporation (CNOOC) has received its first cargo of liquefied natural gas from Qatar, according to Chinese newspaper reports.

The first shipment, of 216,000 cubic metres, has arrived at Dapeng LNG teminal in Shenzhen, the China Daily newspaper reported.

It is the first shipment under CNOOC’s 2 million tonne-per-year supply deal with Qatargas, binding for 25 years.

According to official news agency Xinhua, most LNG downstream buyers had only signed intention agreements rather than formal contracts with CNOOC, because of high fuel prices.