BP Amoco confirms role in pioneer US$600m Shenzhen project

BP Amoco yesterday confirmed it had been picked as the foreign partner in China's first liquefied natural gas (LNG) terminal.

The US$600 million LNG project involves building a terminal in Shenzhen capable of re-gassification of three million tonnes of imported LNG a year.

The first phase, due on stream in 2006, also requires 300 kilometres of associated pipelines built to supply gas to the booming Guangdong region.

The British-based oil giant will have a 30 per cent stake in the terminal.

Mainland shareholders, led by oil giant China National Offshore Oil Corp with a 33 per cent stake, take a combined 64 per cent.

Two utilities from Hong Kong have the remaining 6 per cent holding.