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CNOOC to hike natural gas production

By Si Tingting and Wang Bo (chinadaily.com.cn)
Updated: 2009-07-04 11:50

Special Coverage: 2009 Global Think Tank Summit Related readings:  CNOOC net profit up 42% in 2008  CNOOC to tap BG for gas needs  CNOOC in 30b yuan coal-to-gas enterprise  CNOOC price target raised by 15 percent

China National Offshore Oil Corp (CNOOC) has selected two major coal-to-gas projects which are expected to help increase the company's gas production to 10 billion cubic meters in the next five years, Fu Chengyu, president of the company, told chinadaily.com.cn Saturday in Beijing.

"Developing coal-based clean energy is of great significance in solving China's energy problem," Fu said on the sidelines of the Global Think Tank Summit.

The coal-to-gas technoligies could improve energy efficiency by 10 percent than directly using coal to generate power, and could substantially reduce carbon dioxide emission, he said.