BEIJING, June 23 -- Top Asian oil refiner Sinopec Corp. said Thursday it is in early discussions to build a liquefied natural gas (LNG) terminal in the southern Chinese city of Zhuhai.
Sinopec is vying with CNOOC Group, which is leading a race to build a string of LNG terminals along coastal China, as the government aims to boost the country¡¯s use of cleaner gas to 8 percent of its energy mix by the end of this decade.
If it goes ahead, Sinopec¡¯s terminal would be the second LNG terminal in Guangdong Province. The first is in Shenzhen, which received China¡¯s first imported cargo of the super-cooled, compressed gas from Australia¡¯s North West Shelf in May.
Sinopec did not specify an investment amount but LNG terminals are often expensive affairs, involving spending of about US$1 billion or more.
¡°We are still in negotiations with the Macao SAR Government,¡± Sinopec¡¯s investors relations executive Huang Wensheng told reporters.
Beijing-based Sinopec had received initial approval to build LNG terminals in Shandong in eastern China.