Chinese state-owned companies China National Offshore Oil Corporation (CNOOC), Sinopec and PetroChina intend to construct LNG import terminals in nine Chinese ports in the next ten years to satisfy the country’s energy demand.
The new import terminals are being constructed as China plans to augment its yearly LNG imports to 50 million tons by 2020.
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At present the country has two terminals, run by CNOOC. They import LNG from Fujian and Shenzhen, which can handle more than six million tons of LNG a year.
Under the government’s existing authorisations, plants will be constructed in Shanghai, Ningbo, Jiangsu and Dalian. The first of these plants located in Shanghai is likely to become operational by the end of 2009.
CNOOC has offered to construct import terminals at Zhuhai and Hainan, while Sinopec has proposals to erect facilities in Wenzhou, Shandong, Rizhao and Zhuhai.
Petrochina is looking to build plants in Qinzhou and Hebei, and to construct terminals in Jiangsu and Dalian.
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By GlobalData
