18 September 2013 09:54 [Source: ICIS news]
SINGAPORE (ICIS)--China National Offshore Oil Corp (CNOOC) will build a yuan (CNY) 12bn ($2bn) liquefied natural gas (LNG) import terminal project in Jiangsu province that is due for commissioning in 2016, a company source said on Wednesday.
The company has obtained regulatory approval from China’s National Development and Reform Commission (NDRC) in August this year to begin preparatory works for the terminal, the source said.
First phase of the project will consist of a 2.2m tonne/year floating storage and re-gasification unit (FSRU), a 100,000-tonne specialised jetty and an onshore terminal with an annual handling capacity of 3m tonnes, the source said.
Construction of the project’s first phase is likely to be completed in two or three years at the soonest, the source said.
CNOOC is expected to expand the terminal’s annual handling capacity to 6m tonnes in the second phase of construction.
LNG received by the terminal will be supplied to a proposed gas-fuelled power generation plant, which will be equipped with eight 300-megawatt (MW) generators, and will also be supplied to nearby markets, the CNOOC source said.
CNOOC is the largest LNG importer in China, running three of the six operational LNG import terminals in the country.
($1 = CNY6.12)
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