CNOOC jumps into coal-to-gas venture
News services
China National Offshore Oil Corporation (CNOOC) is cooperating with a coal mine group to invest 30 billion yuan ($4.4 billion) in a coal-to-gas project in Shanxi province in central China, the China Daily reported today.
CNOOC offshoot CNOOC New Energy Investment and Datong Coal Mine Group will put the investment in a coal-to-gas plant with an annual capacity of four billion cubic metres of natural gas, according to the report.
Apart from natural gas, the plant will also produce diesel, gasoline and other chemical products, the company added.
The project aims to tap Datong's vast coal reserves and increase the supply of clean and reliable energy not only to Shanxi, but also regions such as Shandong, Liaoning, Hebei and Tianjin.
The timetable for the construction and plant operation has not yet been disclosed.
Is LNC part of the JV???
coal sale update, page-10
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