An order of 2.6 million LNG put by CNOOC

An order of 2.6 million LNG put by CNOOCAn order of 2.6 million tons of liquefied natural gas (LNG) has been put forward by the China National Offshore Oil Company, Ltd. (CNOOC). The order will be fulfilled by the French utility, GDF Suez SA.

The deal was signed in Shanghai between the wholly-owned subsidy of CNOOC, CNOOC Gas and Power Group and the state-owned gas and electricity Company from France. As per the deal CNOOC will be provided with gas for the next four years and will be beginning from 2013.

Also as per a clause, CNOOC will be entering no other agreement during the mentioned time period. This deal has been struck because China wants to use green technology so that it is able to reduce its carbon emissions.

The deal is the latest one in the string of deals that have been signed by China so that it is able to reduce its dependence on coal. CNOOC believes that it will also add a medium-term contract so that it can reduce supply-related risk.

No comment came from the French company while CNOOC said that tit is going to add on the path to save energy for the company.