China starts new LNG terminal project in Shandong
[HONG KONG] A new liquefied natural gas terminal project has broken ground in Yantai, Shandong Province, China's National Petroleum and Natural Gas Pipeline Network Group said in a statement Saturday.
The project is the first energy infrastructure project PipeChina has built since the company was set up in December last year.
The new project for receiving imported liquefied natural gas (LNG), jointly built with Nanshan Group, is designed to receive 20 million tonnes of LNG per year, with 20 gas-storage tanks each with capacity of 220,000 cubic meters, the company said.
Phase one of the project, running at 5 million tonnes, is expected to launch in 2023, it added.
REUTERS
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Gold trades in tight range as market focuses on US economic data
Anglo American says it received unsolicited buyout proposal from BHP
Oil settles lower as US business activity cools, concerns over Middle East ease
Orsted says Taiwan wind project to power TSMC on track for 2025 finish
Gold edges down as Middle East worries ebb
Oil rises as dollar slips, focus shifts to economic data