"We've reached an initial agreement with the local authority to build an LNG terminal in Shanghai," a CNOOC official was quoted as saying by XFN-Asia.
"The deal will be finalised once talks with our joint venture partner are completed next month," he said.
British supermajor BP has offered to team up as an equity partner with CNOOC for the Shanghai project and BP would also bid for the LNG supply contract.
Projects
