It is expected that the clean natural gas energy would be the choice of China in the future. Therefore, China Merchants Group (CMG), as a primary initiator, initiated the study and promotion of China's LNG import transportation project in 1999. It was in the same year that CMG worked with COSCO to set up a preparatory team for the project and activated and participated in the preparation for Guangdong LNG Transportation Project, which was one of the major components of Guangdong LNG Project ¡V the first pilot project of LNG import in China. Till now, with its feasibility report being approved by China government, the transportation project is being conducted with following activities in progress.
In 2003, the preparatory team started to carry out a study on Fujian LNG Transportation Project.
In 2004, China LNG Transport (Holdings) Co., Ltd. (¡§CLNG¡¨) was jointly ventured in Hong Kong by CMG¡¦s Hong Kong Ming Wah Shipping Company and COSCO's Dalian Ocean Shipping Company. As the first LNG transportation company in China, it is expected to promote China's LNG transportation based on the preparation for both Guangdong and Fujian LNG transportation projects.
Approved by Ministry of Commerce of the P.R.C., China LNG Shipping (International) Co., LTD set up in Hong Kong on Sep 17th 2004. It is a professional LNG ship management company jointly ventured by CLNG and BP Shipping (Holdings) Limited.