Black gold: a Chinese coal miner
CNOOC joils the CTL train
A unit of China National Offshore Oil Corporation (CNOOC) plans to build a number of coal-to-liquids (CTL) plants in partnership with Datong Coal Mine Group, the Datong city government said today.
The pair aim to produce 4 billion cubic metres of coal-based natural gas a year, as well as diesel, gasoline and other chemical products, a statement on the city government website said.
The total investment in the project, to be located in Datong, is estimated at 30 billion yuan ($4.4 billion), Reuters quoted the statement as saying.
The statement did not give details, including a timeframe for construction or on shareholding in the project.