![Phoenix Petroleum and CNOOC sign MoU](https://cdn.energydais.com/media/images/news/27_NkUDsHk.jpg)
Fetching News Details
Phoenix Petroleum has stated that it has signed a MoU with Chinese-CNOOC Gas and Power Group Co Ltd for the development of a LNG terminal in Philippines. The companies have mutually agreed to ‘study, plan, and develop’ the LNG project, which will result in a broadened portfolio for Phoenix Petroleum. Several power plants with a total generating capacity of more than 3,000 megawatts are facing problems due to LNG shortage.