China has signed a letter of intent to expand a refinery at Cienfuegos, Cuba, which is estimated to cost $6bn.
The letter of intent was signed by Cuvenpetrol, a joint venture between Cuba and Venezuela, Huanqiu Contracting and Engineering unit of China National Petroleum and the Italian unit of French oilfield service company Technip to finalise a contract to expand and refurbish the refinery at Cienfuegos on Cuba’s southern coast.
The project aims to expand the refinery’s capacity from 65,000 barrels per day to 150,000 barrels.
Cuvenpetrol and Huanqui also signed a separate letter of intent that involves a contract to build a liquefied natural gas project, including a regasifcation plant built at or near the refinery.
Eximbank of China may fund the refinery and LNG projects, with support from Venezuela, reports Reuters.
