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New LNG terminal active in 2011

New LNG terminal active in 2011
China is set to have a new LNG terminal in Dalian, due to be operational in 2011.

China is set to have a new LNG terminal in Dalian, due to be operational in 2011.

China is set to have a new LNG terminal in Dalian, due to be operational in 2011.

PetroChina is forming a joint venture with Dalian Port to construct and run the LNG terminal.

Reports said the Hong Kong-listed port operator's stake in the JV would be 20% while PetroChina would hold a 75% stake.

The JV is said to be called PetroChina Dalian LNG Co. and the terminal will reportedly serve mainly consumption from China's Liaoning province.

Dalian is Liaoning's key port and China's northernmost ice-free seaport.

PetroChina last week formed a partnership with the China Shipping Development to launch an LNG shipping company.

The new Xingang terminal has an LNG berth and a receiving facility with at least three storage tanks.

Construction costs have been estimated at about $878 million (6 billion yuan).

Dalian Port was quoted saying that ?the LNG terminal business is relatively new in China. With an increasing demand for LNG in China, the terminal business has significant growth potential.?

China reportedly plans to build at least 10 LNG terminals and double the use of LNG within five years.

www.TurkishMaritime.com.tr

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