Sinopec's Beihai LNG Terminal to Get Approval Soon

Sinopec’s plan to build a 3 million tonne-per-year import terminal of liquefied natural gas (LNG) in south China is expected to win final state approval soon, Reuters reported Friday.

The terminal is expected to come up near coastal city Beihai and is slated to start operations around mid-2015. The gas will be brought from Queensland.

The Beihai project would be the second LNG import facility for Sinopec Corp, which is building its first terminal in east China's Qingdao and planning a new one in east China's Wenzhou.

The Beihai terminal will supply gas to a dozen cities in Guangxi and two cities in neighbouring Guangdong province through a planned pipeline grid.

In December, Sinopec Group, parent of Sinopec Corp, agreed to raise its stake in the $20 billion Australian Pacific LNG joint venture to 25 percent and to buy more gas from the project under a 20-year supply pact.