Cnooc's Zhejiang Terminal Jumps

Cnooc Gas and Power, a unit of state-owned Cnooc, said August 10 its Zhejiang LNG terminal unloaded and processed 510,000 metric tons of LNG in July, up by 85% year on year.

The terminal is near the city of Ningbo in the eastern Chinese province of Zhejiang. Cnooc Gas and Power has 51% stake in the terminal while other shareholders are Zhejiang Energy Company (29%) and Ningbo Power (20%).

The Zhejiang LNG terminal was commissioned in 2012 with LNG imported from Qatar. In June, Cnooc Gas and Power commenced work on the second phase of the Zhejiang terminal. Once the second phase is complete by end-2020, terminal’s capacity will double to 6mn mt/yr.