CNOOC to expand Jiangsu Binhai LNG project
BEIJING, (Reuters) - China’s CNOOC plans to expand its LNG project in eastern Jiangsu province to meet rising demand from more regions, state-media China News reported citing a project manager from CNOOC.
CNOOC will lift the storage tank facility of each of the four tanks linked to the Jiangsu Binhai LNG receiving terminal to 220,000 cubic meters, up from 160,000 cubic meters, China News said.
Total investment in the project rose to 17 billion yuan ($2.46 billion), up from 14.4 billion yuan, China News said.
The terminal and its storage tanks will be able to serve a broader region including the provinces of Jiangsu, Anhui, Henan and Shandong, where the government is switching winter heating fuel to gas from coal.
The first phase of the project, with a supply capacity of 3 million tonnes, will be completed in September 2021, Chen Jiong, a project manager for the Binhai project, said. ($1 = 6.8987 Chinese yuan) (Reporting by Meng Meng and Aizhu Chen; Editing by Sunil Nair)
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The global LNG industry is becoming increasingly interconnected as grassroots export projects get off the ground. Another technology route for processing gas into fuels—GTL—is attracting renewed attention due to improving economics. Small-scale solutions for both LNG and GTL are at the forefront of new technological developments, while major projects using more conventional technologies continue to start up around the world.
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