China’s CNOOC Gas & Power to operate Jieyang LNG terminal in 2015

18 February 2013 03:40  [Source: ICIS news]

SINGAPORE (ICIS)--CNOOC Gas & Power Group plans to start up a 2m tonne/year receiving terminal for imported liquefied natural gas (LNG) at Jieyang in Guangdong province in 2015, a company source said on Monday.

The company plans to build three 160,000 cubic metre (cbm) storage tanks at the terminal, and a jetty which can dock LNG tanker ships with capacities varying from 80,000cbm to 267,000cbm, the source said.

Construction of the terminal was approved in early February by the National Development and Reform Commission (NDRC), China’s energy watchdog, according to the source.

LNG imports to the terminal will be allocated by the parent company, China National Offshore Oil Corp (CNOOC), from its existing contract portfolio, the source added.

The company also plans to expand the terminal capacity to 4m tonnes/year via a second phase project, and it will build two more 160,000cbm storage tanks.

The total investment in the whole project is expected to reach yuan (CNY) 15bn ($2.4bn), added the source.

The terminal is targeted at the consumer markets in the cities nearby, including Shantou, Shanwei, Chaozhou and Jieyang, which have shown strong demand for natural gas from the manufacturing industry, especially in the ceramics sector, said industry sources based in Guangdong.

The terminal will also supply natural gas to gas-fuelled power plants in the region, the sources added.

CNOOC, China’s top LNG importer, is running an operational LNG terminal at Dapeng Bay in Guangdong, and has another two terminals under construction or planning in the province.

($1 = CNY6.23)

By: Ricki Wang
+65 6780 4359

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