Guangzhou: China National Petroleum Corp (CNPC) has won approval for a liquefied natural gas (LNG) storage project on Hainan island, according to Reuters.
The RMB850m ($133.6 million) Shennan LNG storage project consists of 200,000 cu m of LNG storage tanks and a wharf with a receiving capacity of 10,000-20,000 cu m.
The first phase of the project, with a storage capacity of 40,000 cu m, is expected to be put into operation in May 2013.
The storage tanks will be used to receive LNG from CNPC's two operating terminals in Rudong and Dalian as well as planned terminals in Tangshan and Shenzhen.
CNPC, which operates its gas business via PetroChina and Kunlun Energy, last year started up its two LNG receiving terminals in Rudong and Dalian, with total annual capacity of 6.5m tonnes.
Another major LNG project in Hainan is held by CNOOC Group, top Chinese liquefied natural gas receiving terminal developer. The company started to construct a 2m tonne-per-year LNG terminal in the southern island province in November 2011. [27/06/12]
