Introduction

China's Zhejiang Energy has signed a cooperation framework agreement with Shenzhen Energy and Liuheng management committee, the local administrative agency in Zhejiang Zhoushan islands new district, to jointly invest and develop an LNG receiving terminal project in Liuheng island, east China.

The three parties will plan to jointly invest and set up a project company, and the project company will build a liquefied natural gas (LNG) receiving station with an annual receiving capacity of 12 million tons in the reclamation site of liuheng phase ii, with a total investment of about 16 billion yuan.

The first phase of the project will include building one berth capable of berthing 266,000 cubic meter LNG carriers, one LNG ship refueling terminal and three LNG storage tanks of 200,000 cu m each, which is expected to have a handling capacity of around 5 million mt. LNG handling capacity of the terminal is scheduled to increase to 5 million mt/year in the second phase.

Considering the long-term development, according to the market demand, the size of the receiving station is expected to increase to 12 million tons of annual receiving capacity.