On July 29, CNOOC Fujian LNG Project Phase II and an oil deport in Haixi Ningde Industrial Zone started construction. The investment of the overall project is RMB17.4 billion.
The project aims at accelerating the energy development along the Southeastern coast, and ensuring efficient and clean energy supply to Fujian Province.
CNOOC and Fujian Provincial Government signed the 12th Five-year Strategic Cooperation Agreement in August 2011. According to the agreement, CNOOC will invest RMB80 billion upon the construction of oil, gas, electricity, chemical programs and related industrial chains in Fujian.