Beijing (November 8, 2011) Pacific Oil & Gas (PO&G), part of the Royal Golden Eagle (RGE) group of companies, today announced the official launch of production at its LNG project in Jiangsu. The LNG project, the second with overseas ownership in China, is the result of a joint equity investment and development partnership with China National Petroleum Corporation (CNPC) and the Jiangsu Guoxin Investment Group. The launch of the project is important for the further promotion and development of clean energy in Jiangsu Province and the Yangtze River Delta, expanding the supply of natural gas and delivering the capability to provide energy on a regional scale.
Commemorating the launch at a ceremony held in Rudong, Jiangsu, were Mr. Li Jinhua, Vice Chairman of the CPPCC, Mr Shi Heping, Vice Governor of the Jiangsu Province, Mr. Jiang Jiemin, President and Party Secretary General of CNPC, Mr. Liao Yongyuan, Deputy General Manager of CNPC and Mr. Sukanto Tanoto, Chairman of RGE, along with senior managers of contractors and other relevant companies.
As the key promoter and investor in the project, Mr. Tanoto, Chairman of RGE, said he was delighted with the successful launch of the Jiangsu LNG project, adding that exploring ways to develop new energy has been a dream of his for many years. Mr. Tanoto commented, “The clean energy industry, as exemplified by LNG, is the trend for the future, and we are deeply honoured to be partnering with CNPC and Jiangsu Guoxin on this project. We have learned so much from CNPC’s remarkable expertise and their wealth of experience. At the same time, we remain very grateful for the wholehearted support of the local government. The Jiangsu LNG project has set a high benchmark for cooperation, trust and a shared belief in win-win partnerships. Going forward, we intend to continue to strengthen our cooperation and contribute to the growth of China’s clean energy industry.”
The Jiangsu LNG project is comprised of five separate projects: the LNG man-made island; the receiving terminal, the jetty, the cross ocean pipeline and the gas transport pipeline project. Among them, the receiving terminal is located in the Xitaiyang man-made island in the coastal radiation sandbanks in Rudong County in Jiangsu. Occupying an area of 0.3 square kilometers, the terminal has an exclusive jetty for natural gas where large LNG ships can dock. The terminal will be built in two phases; Phase 1 has a capacity of 3.5 mtpa and will deliver an average of 4.9 billion cubic meters of natural gas per annum. In Phase 2, the LNG capacity will expand to 6.5 mpta and will deliver an average of 9.1 billion cubic meters of natural gas per annum.
The preparation and construction of the Jiangsu LNG project has taken around a decade, and Mr. Tanoto has been one of the critical figures throughout, campaigning tirelessly to promote the LNG project and guide it to a successful outcome. Ten years ago, the Rudong Yangkou port was just a sand beach and few saw its potential as a deep water port and an LNG receiving terminal. But as Mr. Tanoto noted with humour, “If the Yangtze River is the dragon of China, then Shanghai is its right eye and the city of Nantong is its left one.” Mr. Tanoto saw that the Rudong Yangkou port was blessed with deep water port potential rarely seen along the Jiangsu coast, and was the perfect location to grow large scale logistics and coastal industries. The development of the Rudong Yangkou port will extend significant benefits to the growth of Nantong, Jiangsu, the Yangtze River Delta and the whole country.
About Pacific Oil & Gas (PO&G)
Pacific Oil & Gas (PO&G), part of the RGE group of companies, is an independent energy development company that is dedicated to developing clean energy projects with competitive advantages. Its business covers the whole energy supply chain, from the upstream exploration and development, to LNG receiving terminals, to the investment and operation of downstream projects including gas power stations. Besides the LNG receiving terminal project jointly invested and developed by CNPC and the Jiangsu Guoxin Investment Group, PO&G also exclusively invested, developed and operated the Eastern Xiamen gas power plant in Fujian. The project is a crucial part of Fujian LNG projects and is recognized as the first wholly foreign-invested gas power plant in China. Phase 1 of construction of the plant has delivered two gas-steam combined cycle units, each operating with a capacity of 390 MW.
For further information see www.po-and-g.com and www.rgei.com