Cnooc's Zhejiang Terminal Jumps

Cnooc Gas and Power’s Zhejiang LNG terminal, located near the city of Ningbo in the eastern Chinese province of Zhejiang, unloaded 5.47 million metric tons of LNG in 2018, up 52% year-on-year, the company said January 2.

The terminal received 80 vessels during the year, an increase of 51% over 2017, Cnooc Gas and Power, a unit of state-owned Cnooc, said.

The Zhejiang terminal was commissioned in 2012 with LNG imported from Qatar. Cnooc Gas and Power has 51% stake in the terminal while other shareholders are Zhejiang Energy Company (29%) and Ningbo Power (20%).

Since it was put into operation in September 2012, the terminal has unloaded 223 vessels, with a total unloaded volume of 15.44mn mt, the company said. 

China's LNG imports have seen very strong in 2018 due to robust domestic gas demand owing to government's aggressive coal-to-gas switching policy.