Cnooc Starts Work on Zhejiang Terminal's Second Phase
Cnooc Gas and Power, a unit of state-owned Cnooc, June 27 commenced work on the second phase of the Zhejiang LNG terminal located near the city of Ningbo in the eastern Chinese province of Zhejiang.
Once the second phase is complete by end-2020, terminal’s capacity will double to 6mn metric tons/yr, the company said June 28. The first phase work started in 2009 and the terminal was commissioned in 2012 with LNG imported from Qatar.
In the second phase, three storage tanks of 160,000 m3 will be built along with supporting infrastructure. Cnooc Gas and Power has 51% stake in the terminal while other shareholders are Zhejiang Energy Company (29%) and Ningbo Power (20%).
With focus on reducing air pollution, China is promoting cleaner fuels like natural gas which has boosted the demand for LNG. Asia’s biggest economy imported record LNG volumes last year as consumers switched from coal to gas.