Shanghai: Taizhou-based Zhengjiang Zhongyou Longchang Energy plans to invest RMB4.3bn ($694m) to build an LNG storage and transport station at Damaiyu port of Taizhou, Zhejiang.
The total receiving capacity of the LNG station will be up to 6m tons, the designed annual receiving capacity will be around 1.5m-2m tons.
The company will develop a berth, shipping channel, storage area and related facilities to support the LNG station project.
Zhongyou Longchang Energy revealed that the company has reached a cooperation agreement with Malaysia and UAE to get resources.
The company currently operates a 3,000 tons-class LNG terminal and an LNG gasification station.