Zhongneng and AEI to form LNG partnership

Zhongneng and AEI to form LNG partnership

Chinese new energy firm Zhongneng and Singapore’s precision aluminum product manufacturer AEI Corporation have entered into a framework agreement for the proposed collaboration on LNG business along Yangtze River.

Under the agreement, Zhongneng will appoint AEI to act as its agent to purchase up to 6m metric tonnes of LNG annually and the two companies will form a joint venture for LNG trading and logistics activities.

Additionally, AEI will participate in the investment and construction of port facilities and the operation of LNG ISO Container projects along the Yangtze River, with plans to establish structured funds for such investments.

China has been promoting the development of LNG bunkering along its inland rivers and made plans to establish a complete LNG bunkering network at major inland waterways by 2025.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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