Hong Kong power company CLP Power is aiming to start the construction of the city’s first floating LNG terminal by the end of this year.
The company’s chief executive Richard Lancaster said in a media briefing that the company is still working on final permits and approvals.
“In the meantime we are getting on with the design works and gearing up for the awarding contract aspects,” Lancaster said.
The company initiated the idea of building a floating LNG receiving terminal off Hong Kong’s Soko Islands in 2016, and the project received an environmental permit in October last year, however, the final investment decision has yet to be taken.
Hong Kong is aiming to double the use of natural gas from 22% percent in 2012 to about 50% by 2020, as part of its grand plan to switch to cleaner fuel.