The first phase of the terminal in the eastern province of Zhejiang is set to be complete by the end of 2021, according to a statement from Sinopec.
A new entity, Zhejiang Zheneng Wenzhou LNG Company, was launched earlier in the week to undertake the project. Zhejiang Energy will hold 51%, while Sinopec will hold 41% and a local investment firm will hold the remaining 8%.
The terminal project, Sinopec’s fourth, is to include four LNG storage tanks, along with a berth for docking tankers and a 26-kilometre pipeline.
In April, Sinopec announced it aimed to more than double its LNG receiving capacity over the next six years to reach 26 million tonnes per year.
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More
This website uses cookies.