Related News

Home » Business » Energy

Dalian picked as base for LNG venture

PETROCHINA Co and Dalian Port (PDA) Co agreed to form a joint venture for a 6-billion-yuan (US$877 million) liquefied natural gas terminal project in the northern port city.

PetroChina will own 75 percent of the venture, Dalian Port 20 percent, and Dalian Construction Investment Corp, a local government investment arm, the balance, Dalian Port said yesterday.

The LNG terminal in Xingang, Dalian, will mainly serve users in Liaoning Province when operations start in 2011, Hong Kong-listed Dalian Port said in a stock exchange filing. Industrial and commercial users will account for a large proportion of the LNG consumers in the area, it said.

Construction started in April last year on the terminal, which will have an initial annual LNG receiving capacity of 3 million tons, PetroChina's parent company said earlier.

PetroChina last week also agreed with two partners for another LNG terminal venture in Rudong, Jiangsu Province.

PetroChina has signed long-term deals with Royal Dutch Shell Plc to buy LNG from nations such as Australia and Qatar, and is expected to sign another one with Exxon Mobil Corp this year.

China plans to build more than 10 terminals on its east coast to get LNG, which is super chilled from gas for transport by ships. Two terminals are operational in China - in Dapeng, Guangdong Province and in Fuqing, Fujian Province. Both are run by China National Offshore Oil Corp.


Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend