Beijing: China National Offshore Oil Corp (CNOOC), China’s leading energy firm, announced yesterday that it had received final approval from the government to build China’s first floating LNG terminal in Tianjin.
According to the company’s release, the first phase of the project comprises a floating, storage and regasification unit, an accompanying berth and two 30,000 cubic metre storage tanks. It will have an LNG receiving capacity of 3bn cubic metres per year. Total investment on the first phase of the project is RMB3.3bn.
CNOOC said the floating LNG terminal can shorten the construction period by three to four years comparing with LNG terminal and floating storage and regasification services rented from overseas.
The second phase of the project will be an onshore terminal with an annual receiving capacity of 8 cubic metres.[15/08/13]
