Cnooc Terminal Set To Top Nominal Capacity
An LNG import terminal has already imported as much up to mid-September as it might normally be expected to import by the second half of November.
Cnooc Gas & Power said September 21 that its Zhejiang terminal regasified more LNG during January 1-September 21 than during the whole of 2017.
Its throughput so far this year suggests it will far exceed its 4.1bn m3/yr nameplate capacity by year's end - suggesting just how hungry Chinese LNG demand has been this year.
The terminal regasified 3.6bn m3 of LNG from January 1-September 21 2018, more than last year's entire total - which however Cnooc did not disclose. It did however add that total regasified volume until September 21 this year was 69% of its target for 2018.
September 21 was 72% of the way through 2018. Had it operated at nameplate capacity, by then it would have regasified just under 3bn m3. But its actual 3.6bn m3 throughput represents something more like 88% of its 4.1bn m3/yr capacity; it might normally be reached between mid/late November. So with busy winter months ahead, Zhejiang terminal looks almost certain to exceed its nominal capacity.
The terminal near the city of Ningbo, in the eastern Chinese province of Zhejiang. Cnooc Gas and Power, part of state owned Cnooc, said the terminal - opened in 2012 - is operating at its 'maximum capacity' and is supplying 18mn m3/d of gas to customers in Zhejiang province. It has a 51% interest in the terminal, other companies have the remaining 49%.
The company has started work on the second phase of the terminal. Once that second phase is complete by end-2020, the terminal’s capacity will double to 6mn mt/yr (8.2bn m3/yr).
Cnooc Gas and Power operates nine LNG import terminals at Tianjin, Shanghai, Ningbo, Putian, Yuedong, Dapeng, Zhuhai, Hainan and Shenzhen - most of which are part-owned by others.
After its record LNG imports last year, China will likely set a new record this year. Cumulative imports in January-August were 32.63mn mt, 47.8% higher than the same 2017 period. China's full year 2017 LNG imports were 38.13mn mt, up over 46% on year, according to the Chinese customs department. That propelled China ahead of South Korea to become the world's second largest LNG importing nation, after Japan.