27 July 2012 05:03 [Source: ICIS news]
SINGAPORE (ICIS) – China National Offshore Corp (CNOOC) and Shenzhen Energy have obtained regulatory approval to build a 4m tonne/year liquefied natural gas (LNG) terminal at Shenzhen in ?xml:namespace>
The approval was granted by
The yuan (CNY) 8.1bn ($1.27bn) project is a 70:30 joint venture between CNOOC Oil & Gas and Shenzhen Energy, according to the statement.
The project cost also covers building of four LNG tanks – each with a storage capacity of 160,000 cubic metres (cbm) – and a berth with an 80,000-266,000cbm capacity at terminal, it said.
The terminal will receive LNG cargoes from overseas for distribution to industrial users, such as power plants.
A CNOOC source said that the project would be constructed in two phases with equal capacity, but timeframe has not been decided yet.
($1 = CNY6.39)
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