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2018-08-22 12:55:00

CHINA'S LNG TERMINAL

CHINA'S LNG TERMINAL

REUTERS - China's Sinopec Corp has teamed with Zhejiang Energy Group Co Ltd on a 3 million tonne-per-year liquefied natural gas (LNG) terminal in east China, with the first phase set for operation at end-2021, the state oil giant said on Wednesday.

The project, to be built in Wenzhou of Zhejiang province, includes four tanks each able to store 200,000 cubic meters of LNG, a berth to dock tankers of 30,000 cubic meters to 266,000 cubic meters, as well as a 26-km (16-mile) pipeline.

The two companies launched on Monday new entity Zhejiang Zheneng Wenzhou LNG Co Ltd that is 51 percent owned by the Zhejiang group, 41 percent by Sinopec and 8 percent by a local investment firm, said a Sinopec press official.

This will be Sinopec's fourth LNG receiving terminal after similar-sized facilities built in Qingdao, Beihai and Tianjin. The state group is expanding its LNG receiving capacity rapidly under Beijing's push to replace coal with cleaner gas.

Zhejiang Energy Group, established in 2001, is a provincial government-backed entity engaged in thermal power generation and pipeline gas distribution, according to its website.

The group supplies 61 million tonnes of coal a year, nearly half of Zhejiang's consumption, and distributes 8.7 billion cubic meters of natural gas a year, meeting 83 percent of the province's need for gas.

The Wenzhou terminal puts the Zhejiang group into China's so-called "second-tier" of LNG players, which are local-government-backed city gas distributors that are emerging as new merchants in the global gas market.

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Earlier:

 S-E.Asia
2018, August, 17, 11:45:00

CHINA'S LPG IMPORTS UP

PLATTS - China Gas Holdings is expected to import around 10 million mt/year of LPG over the next five years, up from the current 2.8 million mt/year, as the Hong Kong-listed gas operator and service provider seeks to expand into the petrochemical sector, industry sources said recently.

 

 S-E.Asia
2018, August, 15, 10:30:00

ALASKA LNG: $43 BLN

PLATTS - A deal between Chinese companies and Alaska's state gas corporation to build the $43 billion Alaska LNG Project appears to be on scheduled despite the trade war brewing between the US and China.

 

 S-E.Asia
2018, August, 13, 13:40:00

CHINA STOPPED U.S. LNG

BLOOMBERG - Under the plan, PetroChina would boost buying of spot cargoes from other countries or swap U.S. shipments with other nations in East Asia to avoid paying additional tariffs, said the people, who asked not to be identified because the information isn’t public.

 

 S-E.Asia
2018, August, 10, 10:50:00

U.S. - CHINA LNG DOWN

REUTERS - U.S. exports of liquefied natural gas (LNG) to China in July fell to their lowest level in a year and are expected to decline further as the Sino-U.S. trade dispute forces utilities to seek alternative supplies.

 

 S-E.Asia
2018, August, 10, 10:45:00

QATAR - CHINA LNG

REUTERS - PetroChina Ltd is in advanced discussions with Qatar to purchase liquefied natural gas (LNG) under short- and long-term agreements, three sources with knowledge of the talks said on Wednesday.

 

 

 S-E.Asia
2018, August, 6, 13:30:00

CHINA - U.S. RETALIATION

API - “China’s retaliation will hit America’s energy industry particularly hard,” said API Vice President for Regulatory and Economic Policy Kyle Isakower. “American natural gas and oil companies already hit by U.S. tariffs on industrial products and specialty steel essential to our industry will now be faced with Chinese tariffs on critical U.S. exports, impacting American jobs that rely directly and indirectly on the energy industry.

 S-E.Asia
2018, August, 6, 13:25:00

CHINA - U.S. LIST

PLATTS - China rattled investors in the US LNG export sector when it said Friday it may impose 25% tariffs on American cargoes if President Donald Trump follows through on his threat to escalate the trade dispute with Beijing that he initiated.

 

 

 

 

Tags: CHINA, LNG, GAS, SINOPEC, ZHEJIANG
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