CLP Power, HK Electric inaugurate floating LNG import terminal
CLP Power Hong Kong (CLP Power) and The Hongkong Electric Co. (HK Electric) on September 21 held an opening ceremony for the Hong Kong offshore LNG terminal. The offshore LNG terminal is operated by the Hong Kong LNG Terminal, a joint venture between CLP Power and HK Electric. The joint venture has signed a long-term time charter agreement with Japan’s Mitsui O.S.K. Lines.
The terminal, which is located to the east of the Soko Islands, went into service in July 2023. It is the world’s largest FSRU vessel and has an LNG storage capacity of 263,000 m3. It is moored at the jetty of the terminal to receive, store, and regasify LNG before the natural gas is sent by two separate subsea pipelines to CLP Power’s Black Point Power Station and HK Electric’s Lamma Power Station.
The launch of the terminal is a significant step forward in Hong Kong’s energy transition to achieve carbon neutrality by 2050, the companies said, adding that the terminal provides Hong Kong with access to competitively priced natural gas from international markets, enhancing gas supply source diversity and supply security.
The power companies signed a long-term LNG supply agreement with Shell Eastern Trading, a subsidiary of Shell, prior to the terminal's construction. With the terminal now fully operational, Shell is supplying LNG from its worldwide portfolio to CLP Power and HK Electric.