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 in excess of 2mn metric tons of LNG during the period January 1 – May 1, up 27% year-on-year, Cnooc Gas and Power said May 5.
According to the company, the terminal has been able to provide stable supply of gas to the province amid rising demand. This year, Zhejiang province is expected to consume 18bn m3 of natural gas, up 33% on 2018, Cnooc Gas and Power said citing a report by Zhejiang Provincial Development and Reform Commission and the Zhejiang Provincial Energy Bureau.
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%).
Last year, the terminal unloaded 5.47mn mt of LNG, up 52% year-on-year, as downstream demand for gas was robust.