CNOOC Taps Coal-Based Clean Energy Business      

CNOOC New Energy Investment Co., Ltd., a wholly-owned subsidiary of China National Offshore Oil Corp. (CNOOC), signed an accord with Datong Coal Mine Group (Datong Coal) and Datong Municipal Government on April 26th to cooperate on coal-based clean energy projects.
   CNOOC and Datong Coal will jointly invest RMB30 billion to build a 4 billion cubic meter a year coal-to-natural gas project and related coal mining projects in Datong, Shanxi province. According to their plan, the project also includes power generations.
   The global financial crisis gives opportunities for industrial structural adjustment, said Zhou Shouwei, the vice general manager of CNOOC. The cooperation is a strategic partnership for both sides that will have a win-win outcome.
   The project, which will convert Datong Coal's coal into natural gas, will increase supply of the cleaner fuel in Bohai Ring region and Shanxi province.
   The move gives a major boost to CNOOC in its effort to become an international leading energy company, and also will contribute to the economic and social development in Datong area.