Cnooc's Zhejiang Terminal Jumps

Cnooc Gas and Power’s Zhejiang LNG terminal, located near the city of Ningbo in the eastern Chinese province of Zhejiang, has unloaded more than 5 million metric tons of LNG during January 1-Decmeber 10 period, it said December 11.

The terminal received 74 vessels during the period compared with 53 in the same period of last year. By the end of this year, the terminal is expected to receive 80 vessels, an increase of 51% over 2017, Cnooc Gas and Power said.

The Zhejiang terminal was commissioned in 2012 with LNG imported from Qatar. Cnooc Gas and Power has 51% stake in the terminal while other shareholders are Zhejiang Energy Company (29%) and Ningbo Power (20%).

China's LNG imports have seen very strong this year due to robust domestic gas demand owing to government's aggressive coal-to-gas switching policy.