Beijing, 12 September 2004- Pacific Oil & Gas Ltd., through its wholly-owned subsidiary, East Asia Power ( Xiamen ) Investment Pte. Ltd., signed a Gas Sale & Purchase Agreement with CNOOC Fujian LNG Co. Ltd. on September 12, 2004 in Beijing, China. This is a follow up of an agreement signed with the Government of Xiamen, Fujian, China in September 2003 to build, wholly own and operate a large-scale, state-of-the-art gas-fired combined cycle gas turbine (CCGT) power plant.
The CCGT Power Plant will be located in Xiamen, Fujian Province, China. The Xiamen CCGT Power Plant project is divided into two phases, each phase has 2×350MW power trains, with total design capacity of 1400MW. The GSPA signed recently is intended for the first phase of the project with a total generation set capacity of 764 MW. CNOOC Fujian LNG Co. Ltd. is building a LNG Receiving Terminal project in Xiamen. LNG for this project will be sourced from Indonesia’s Tangguh plant.
Pacific Oil & Gas Ltd. (PO&G) is an independent energy resource development company, supported and funded by leading Asian strategic investors. Incorporated in Hong Kong, PO&G is investing in energy projects along the energy value chain from upstream to LNG plants to receiving terminals to power plants and gas transmission.
Considering the natural resources available in Indonesia and the increasing energy demand in China, PO&G is focusing its investments in China and in Indonesia.