CNOOC Strikes $23M Deal To Pursue Canadian LNG Project

Law360, New York (November 13, 2013, 1:41 PM EST) -- Chinese energy giant CNOOC Ltd. has inked an agreement with the Canadian province of British Columbia giving it exclusive rights to pursue a liquefied natural gas export project on government-owned land for CA$24 million ($23 million), B.C. authorities said Tuesday.

The proposed project, Aurora LNG, would consist of an LNG plant and export terminal and is a joint venture between CNOOC unit Nexen Energy ULC, Japanese oil company Inpex Corp. and Japanese engineering firm JGC Corp.

Under the agreement, the project owners will still have to...
To view the full article, register now.