Shanghai: China's Guanghui Energy announced yesterday that the company has entered into a framework agreement with Shell to establish a joint venture for the investment and operation of the LNG terminal project at Qidong in Jiangsu.
Guanghui Energy and Shell will share 51% and 49% equity in the joint venture, and both companies will jointly cooperate in the entire LNG value chain, from LNG procurement to sales and development of the downstream business.
The terminal will initially have annual capacity of 600,000 tons, which could be expanded to 3m tons in the future. [08/11/13]
Shell eyes Jiangsu LNG project