Cnooc's Zhejiang Terminal to Process Higher Volumes
Cnooc Gas and Power October 11 said its Zhejiang LNG terminal, located near the city of Ningbo in the eastern Chinese province of Zhejiang, expects to unload 88 cargoes this year, up 66% compared with 2017.
Since the start of this year it has unloaded 58 cargoes as against 53 during the same period last year. The terminal is expected to supply 450-500mn m3 of regasified LNG to customers during the month of October, up 125% year on year, Cnooc Gas and Power said.
The company has started work on the second phase of the terminal. Once the second phase is complete by end-2020, terminal’s capacity will double to 6mn mt/yr. The first phase work started in 2009 and the 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%).
Cnooc Gas and Power, a unit of state-owned Cnooc, operates nine LNG import terminals at Tianjin, Shanghai, Ningbo, Putian, Yuedong, Dapeng, Zhuhai, Hainan and Shenzhen. The company has started work on its 10th terminal.