LNG competition is heating up and the oil giant Big Three plays the Three Kingdoms

Beijing will become the main battlefield of LNG (liquefied natural gas). China National Petroleum Corporation has secured the priority of providing enough LNG to solve the energy shortage in Beijing in the future.
Previously in Qinhuangdao, Hebei Province, Beijing Municipality and PetroChina signed a tripartite cooperation framework agreement on LNG projects. It is reported that this project will be constructed in Caofeidian Port, Tanghai County, Tangshan City, with a total size of 10 million tons/year of liquefied natural gas. It will be constructed in two phases, with a period of 6 million tons/year and 2 million tons/year. According to the tripartite cooperation plan, this project will start within this year and strive to complete the first phase of the project in 3 to 5 years. And all the project plans will be completed after 8 years.

It is worth noting that in April before the signing of the project, CNOOC, the leader of China LNG, and China Power Investment Corporation signed an agreement with the Qinhuangdao government to jointly build LNG projects, mainly to generate electricity from clean energy, and Ultimately, it will also solve the problem of insufficient power supply in Beijing.

And during this period, Sinopec quickly landed in Tianjin and started to “run in” with the local community. It is hoped that the company will eventually obtain the right to cooperate in the construction of an LNG project in Tianjin and radiate the capital.

Some experts pointed out that the three major oils will stage a "Romance of the Three Kingdoms" in Beijing, and that the future competition in LNG will spread throughout the country, and its competition will also become more intense.

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