Sinopec's Shandong LNG terminal expansion wins provincial approval
Sinopec’s plan to expand its liquefied natural gas terminal in east China’s Shandong province has won a green light from the provincial government, the state energy firm said.
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| MAP SOURCE: EWA |
The terminal, in the port city of Qingdao, will add two tanks each sized 160,000 cubic metres, and will thus have annual handling capacity of 7 million tonnes, the company said, without giving a timeline for the expansion.
Sinopec, a latecomer to the LNG business among state-run oil and gas firms, started operating the first phase of the Qingdao terminal at end-2014, with annual handling capacity of 3 million tonnes.
The expansion is estimated to cost 2.3 billion yuan ($337 million) and will take three years to build, local media reported late last year.
Sinopec operates two other terminals, one in Guangxi in the southwest and one in Tianjin, near Beijing.
$1 = 6.8171 Chinese yuan renminbi Reporting by Chen Aizhu; editing by Richard Pullin
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