Shanghai: China Ocean Shipbuilding Industry Group announced that the company has entered into a strategic cooperation framework agreement with the People’s Government of Jiujiang, Jiangxi province, to establish a special fund to develop its LNG business.
The provincial government will assign a profitable state-owned company to cooperate with China Ocean Shipbuilding to set up a Jiangxi coastal industries development fund for the use of LNG in vessels and to develop an industry chain along the Yangtze river including LNG storage and transport as well as a new energy refuelling system.
The cooperation aims to develop the middle reaches of Yangtze river as a hub for LNG storage, ships and related facilities. The construction of new energy vessels and infrastructure will also be covered.
Last month, China Ocean Shipbuilding established a connection with Jianglian Heavy Industries and its Jiangxi Jiangzhou United shipyard to start its LNG business. [13/11/14]
New LNG entrant