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The report quoted insiders as saying that PetroChina may tie up with CLP Holdings (0002.HK) to build an LNG joint venture in which PetroChina holds 51 percent stake, China Light & Power Co. Ltd. owns 24.5 percent, and Shenzhen Towngas holds the remaining 24.5 percent.
The move is still subject to approval from the central government and if approved, the energy-guzzling Guangdong province would be supplied with three natural gas sources, respectively the operational CNOOC?s Guangdong Dapeng LNG terminal, PetroChina?s LNG terminal and PetroChina-run the 2nd West-to-East pipeline.
The report did not say where the planned LNG terminal would get its feedstock.
The report also said PetroChina will invest six billion yuan in building the first phase of its Jiangsu LNG terminal in Rudong County of Jiangsu province, east China.
The first phase of Rudong terminal, to come online in 2011, is designed to annually process 35 million tons LNG imported from Qatar, able to supplying 4.8 billion cubic meters of gas to the local.
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