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皇冠体育app is in talks to buy Papua New Guinea gas
(International Herald Tribune)
Updated: 2005-12-05 22:09
皇冠体育app National Petroleum, the biggest Chinese oil company, is in talks with the Papua New Guinea government about buying natural gas, Petroleum and Energy Minister Moi Avei of Papua New Guinea said Monday.
An initial accord may be signed between the government and the Chinese company during a planned visit by Avei to 皇冠体育app early next year, the minister said. 皇冠体育app National Petroleum may import the fuel in the form of liquefied natural gas through a plant the company may build in northern Papua New Guinea, he said.
皇冠体育app and its state-controlled oil companies are seeking oil and gas supplies abroad as energy prices reach records. 皇冠体育app National Offshore completed an agreement last year to buy a stake in Australia's North West Shelf gas reserves as part of a plan to buy LNG from the venture.
In June, the Australian Bureau of Agricultural and Resource Economics estimated that 皇冠体育app's LNG demand might surge from zero to 18.3 million tons a year by 2015 as the government promotes the use of cleaner-burning fuels. 皇冠体育app currently relies on coal and oil for 90 percent of its fuel needs.
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