On April 3, COOEC announced that on March 31, 2020, COOEC and Hong Kong LNG Terminal, Castle Peak Power Company Limited, HK Electric completed the signing of the general contract of Hong Kong Offshore LNG terminal. The total contract amount is 4.691 billion Hong Kong dollars, about 4.283 billion yuan.
According to the announcement, the general contract is divided into three contracts, of which contract A is for designing, building and installing a jacket type double berth terminal with an amount of HK $ 1.874 billion.
Contract B is for laying a submarine natural gas transportation pipeline connecting Contract A ’s receiving terminal and a power plant, with an amount of HK $ 2.176 billion.
Contract C is for laying a subsea natural gas pipeline connecting Contract A's receiving terminal and a power plant, with an amount of HK $ 641 million.
It is estimated that the project's revenue in 2020 will account for about 35% of the total contract value.
COOEC stated that the contract was an important measure for the company to actively implement the Guangdong-Hong Kong-Macao Greater Bay Area strategy. It was also the result of the company's continuous expansion of the Hong Kong LNG engineering market.
Source:Sarah Yu,XINDE MARINE NEWS
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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