CNPC Shennan Energy Co gets approval to build LNG reserve project

18 June 2012 08:02  [Source: ICIS news]

SINGAPORE (ICIS)--China National Petroleum Corporation Shennan Energy Co has obtained approval from a local government to build a new a liquefied natural gas (LNG) reserve project in Hainan province, a company source said on Monday.

The planned project, an investment of yuan (CNY) 850m ($133m), will eventually include a 200,000 cubic meters (cmb) LNG tank and an associated wharf, the source said.

The first phase of the project, with storage capacity of 40,000 cmb of LNG, will be started up in May 2013, according to the source.

The project will receive LNG from domestic large transfer stations in Jiangsu Rudong, Liaoning Dalian, and Hebei Tangshan to supply the local vehicle fuel market in Hainan, the source added.

LNG can be used as a substitute for gasoline and diesel oil in automobiles.

($1 = CNY6.37)

By: Dolly Wu
+65 6780 4359

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