On Thursday, the Zhejiang provincial government announced Sinopec’s investment contract with the Zhoushan city government to build a liquefied natural gas (LNG) terminal.
The terminal in the eastern Chinese port city is planned to be jointly constructed and operated with a local government-backed company. It will worth CNY20 billion (USD2.79 billion).
The terminal will have a receiving capacity of 15 million tonnes. The first phase will include two wharves, four gas storage tankers each with a capacity of 220,000 cu m and ancillary facilities with a transfer capacity of 7 million tpa of gas.
The construction is targeted to start in the first half of 2021 while the operations are set for 2024.
