Hainan Import Terminal Approved

摘要

On July 7, China National Offshore Oil Corporation received final approval from the Na- tional Development and Reform Commission for its 2 million tonne per year Hainan LNG project. The Hainan LNG terminal is expected to startup in 2014 and reach annual capacity of two-million tonnes in 2016. CNOOC holds a 65-percent stake in the project while Hainan Development Holdings Ltd. has the remainder.