CNOOC to Build Largest LNG Transfer Terminal in North China

CNOOC Gas and Power Group, Shandong Yantai Development Area Administration and China Guodian Power Development have jointly signed an agreement to strengthen partnerships in the LNG sector and gas power generation.

Sino Ship News has reported that CNOOC Gas and Power Group will make investment for the first phase of the LNG project in Yantai which includes building a floating LNG transfer terminal with an annual receiving capacity of 1.5m tons, and it is expected to be the largest LNG transfer terminal in North China upon completion in 2013.

The second phase of the project will include a LNG terminal with annual receiving capacity of 4.5m tons upon completion in 2017.