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CNOC to build another LNG receiving terminal

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Another receiving terminal in the southeastern province of Fujian is planned by state-owned China National Offshore Oil Corp (CNOOC), leader of the country’s LNG import business, according to a Reuters report.

The project in Fujian’s Zhangzhou city is estimated to cost 6.7 billion yuan ($1.1 billion) and will have an annual capacity of 3 million tonnes in its first phase.

The project has finished the preliminary work and is now waiting for the final approval from Beijing to start construction, a company official told Reuters.

The project, including a port to dock 260,000 cubic-meter tankers and three storage facilities of 160,000 cubic meters each, is expected to start operation in 2017.

The news agency reports that CNOOC has already started the 600-mu (40-hectare) sea reclamation effort for the 52-hectare project, which could cost the company another 660 million yuan.

CNOC already operates six receiving terminals along the east coast including a floating terminal off the northern city of Tianjin.

China is the world’s top energy user and fourth-largest consumer of gas. The country is boosting its supply of LNG by speeding up domestic exploration and lifting imports, both of pipelined gas and gas shipped in tankers.

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