Chinese Duo to Build LNG Terminal on Yangtze
China Huadian Corporation and Guanghui Energy have signed an agreement to build an LNG receiving terminal and storage facility on the Yangtze river in Yueyang city in Hunan province, Guanghui Energy said in a stock exchange filing July 21.
Initially the terminal will have four 20,000 m3 storage tanks and a capacity of 500,000 mt/yr. The terminal is likely to be operational in December 2020. The capacity subsequently will increase to 1mn mt/yr in the second phase and then to 2mn mt/yr in the third phase. Its capacity is expected to reach up to 10mn mt/yr by 2022, the company said. Total cost of the project will be yuan 1.99bn ($290mn).
China Huadian Corporation is involved in power generation and electricity supply business. It generates electricity through thermal, hydro, nuclear, wind, and solar power sources. The company is one of the five largest state-owned power generation enterprises in China. Guanghui Energy explores, processes and sells coal, oil, and gas.