By Reuters Staff
2 Min Read
BEIJING (Reuters) - Private energy firm Huaying Natural Gas has begun construction of a liquefied natural gas (LNG) terminal with annual receiving capacity of 6 million tonnes in southern China, making it the largest private-owned LNG terminal in the country.
Located in the port city Chaozhou in Guangdong province, the project involves a first phase investment of 8 billion yuan ($1.22 billion) and is expected to start operations in 2023, according to state-backed China News and Chaozhou city government-backed Chaozhou News on Monday.
According to Huaying, it also plans to invest 4 billion yuan to build some ancillary facilities at the terminal and 2.3 billion yuan for a LNG carrier in the next step.
Three gas storage tanks with capacity of 200,000 cubic metres each will be built alongside the first stage of the Chaozhou project, and another four same-sized tankers are planned for the second phase.
The Chaozhou terminal will add to the seven LNG terminals already operated in Guangdong province and two projects that are currently under construction.
China has been promoting consumption of natural gas, seen as a bridge of energy transition from coal to renewable, as part of Beijing’s campaign to battle air pollution and climate change.
($1 = 6.5502 Chinese yuan renminbi)
Reporting by Muyu Xu and Chen Aizhu; Editing by Mark Heinrich
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