China National Petroleum Corp wins approval for LNG storrage project in Hainan
Reuters reported that Top Chinese oil and gas producer China National Petroleum Corp has won approval for a liquefied natural gas storage project on Hainan islands.
The China Energy News reported that the CNY 850 million Shennan LNG storage project consists of 200,000 cubic metres of LNG storage tanks and a wharf with a receiving capacity of 10,000-20,000 cubic metres on LNG ships.
It said the first phase of the project, with a storage capacity of 40,000 cubic metres, is expected to be put into operation in May 2013.
The storage tanks will be used to receive LNG from CNPC's two operating terminals in Rudong and Dalian as well as planned terminals in Tangshan and Shenzhen.
CNPC which operates its gas business via PetroChina and Kunlun Energy, last year started up its two LNG receiving terminals in Rudong and Dalian, with total annual capacity of 6.5 million tonnes.
CNPC has said it plans to step up LNG sales in the coming years, in line with a government push for cleaner energy. It plans to sell 11.5 billion cubic metres or around 9 million tonnes of LNG to domestic users by the end of 2015 and aims to promote the use of LNG in at least 200,000 vehicles by the end of 2015.
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