OREANDA-NEWS. March 17, 2011. China National Offshore Oil Corporation (NYSE:CEO) (CNOOC), parent of CNOOC Ltd (CEO.NYSE; 0883.HK), is negotiating with Tianjin Port authority on construction of a receiving terminal of liquefied natural gas (OOTC:LNGLF) (LNG) in the port, according to a report by China Daily.

Yu Rumin, chairman of Tianjin Port Co., was quoted as saying that the project would include a LNG receiving wharf and a processing station with an annual handling capacity of 3 million metric tons (tonnes) of LNG imported from the Middle East.

CNOOC, China's third largest oil company, is also the leader of LNG imports in China. Tianjin port ranks China's third largest sea port by cargo throughput.