CNOOC NWS Private Ltd has played an active and unique role in promoting communication and cooperation between Australia and China in the liquefied natural gas industry and contributing to local communities and job opportunities in Australia.
CNOOC NWS is a subsidiary of China National Offshore Oil Corp, which is one of the largest producers of offshore crude oil and natural gas in China and one of the largest independent oil and gas exploration and production companies in the world. CNOOC NWS manages CNOOC's assets in the North West Shelf LNG Project in Australia.
Boosting LNG industry
CNOOC NWS and six other participants have been the shareholders of the underground resources of the NWS LNG project since 2004 when China LNG Joint Venture was set up to provide LNG to China's Guangdong Dapeng LNG Co Ltd under the 25-year LNG long-term supply agreement. The agreement secured about 90 million metric tons of LNG.
In 2006, the NWS LNG project began to supply LNG to Dapeng's terminal, transporting the first LNG cargo to the Chinese mainland.
Over the past decades, more than 60 million tons of LNG has been delivered to China from the NWS LNG project, which has contributed not only to China's green energy supply but also Australia's economic growth.
As the first LNG project contracted and supplied between Australia and China, the NWS LNG project has set up the bridge between Australia and China in the LNG industry.
Within 2021, Australia's LNG exports to China reached a new record of nearly 32 million tons, developed China's LNG markets, and contributed considerable benefits to the Australian economy.
Since setting up the bridge between Australia and China in 2004, CNOOC NWS has played an active role in the operation and management of the NWS LNG project and in facilitating dialogue and knowledge sharing between Australia and China in the LNG industry and offshore oil and gas operations. In 2003, the Australia-China Natural Gas Technology Partnership Fund was established, which aims to encourage cooperation in the energy sector between the two countries. The fund was backed by the Chinese government, Australian Federal Government, Western Australian State Government, and North West Shelf participants.
Over the decades since the inception of the fund, CNOOC NWS, as one of the participants of the NWS LNG project, has assisted in the operation of the fund's training programs and the visits to Australia and China by delegates from the two countries and promoted LNG business development between the two countries.
Encouraged by the contributions, all the parties have strong intentions to extend the fund program duration to approximately 2031 and the program will steadily and sustainably strengthen the bilateral relationship between the two countries.
Contributing to Australia
With the business ongoing, CNOOC NWS is contributing to Australia significantly. CNOOC NWS constantly contributed taxes and levies to the federal and local governments.
In addition to fulfilling its tax obligations, since 2006, CNOOC NWS has been consistently contributing to local communities. To date, CNOOC NWS has funded through the NWS LNG project to the city of Karratha and other communities in infrastructure, hygiene, education, and the protection of aboriginal heritages.
In the cultural sphere, CNOOC NWS sponsored performances of the West Australian Symphony Orchestra from 2006 to 2008.
In 2009, CNOOC NWS, along with other Chinese-funded enterprises, made donations to the fire-stricken areas in Western Australia.
From 2010 to 2012, CNOOC NWS sponsored the qualification rounds of the Chinese Bridge — Chinese Proficiency Competition for Foreign College Students in Western Australia organized by the Confucius Institute at the University of Western Australia.
In 2016, CNOOC NWS contacted local schools and held lectures on primary and secondary education in Western Australia for its employees and their families who were interested in learning more about educating their children in Australia.
CNOOC NWS has participated in numerous charitable causes, including donating to the victims of natural disasters.
CNOOC NWS also created job opportunities to locals over the decades in accordance with Australian laws and regulations and contributed more values to communities.
As a Chinese company in Australia, CNOOC NWS has also been engaged in frequent exchanges with other Chinese-funded enterprises in the country and Australian institutions to jointly promote the harmonious development of businesses and communities.
CNOOC NWS keeps a strong interest in developing its business in Australia. CNOOC NWS is to sustainably strengthen the bridge of the LNG industry between Australia and China, promote the relationship between Australia and China and contribute to the Australian economy and local communities.
Source: China Daily
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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