China is set to start the pumps at its first deep-water natural-gas project to help wean the country off coal, the Wall Street Journal reported Thursday. The US$6.5 billion Liwan-3 gas field project in the South China Sea is expected to go online by early next year and eventually pump about 4 percent of the country’s gas supply, it said. Husky Energy Inc., which is controlled by Hong Kong billionaire Li Ka-shing, operates the project and owns 49 percent. Chinese state-owned energy company CNOOC Ltd. holds the rest.
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