Pacific Oil & Gas (PO&G) signed a letter of intent with Guangzhou Gas Group and Guangzhou Port for the development of the Guangzhou LNG peak-shaving terminal joint venture.
The Guangzhou peak-shaving station aims to optimize the energy infrastructure of Guangzhou and improve energy supply reliability, the company said in its statement.
The letter of intent signing also follows last year’s heads of agreement between Woodfibre LNG Export and Guangzhou Gas Group concerning a potential LNG offtake of 1 mtpa of LNG for 25 years, starting in 2020, from the Woodfibre LNG project in Squamish, British Columbia, Canada.
The Woodfibre LNG project is owned and operated by Woodfibre LNG, a privately held Canadian company based in Vancouver, and a subsidiary of PO&G which is part of the Singapore-based Royal Golden Eagle (RGE) group of companies.