China CNOOC Plans to Build LNG Terminal in East China

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 China National Offshore Oil Company. or CNOOC. plans to build a receiving terminal of liquefied natural gas in the eastern province of Jiangsu that is expected to cost 14.4 billion yuan ($2.17 billion). local media reported on Friday.

The project. located in the city of Yancheng. will include a berth to anchor 100.000 ton vessels. land-based storage and a pipeline grid and is expected to be completed in December 2020. the official local newspaper Xinhua Daily reported. without saying how it received the information.

The storage tanks will each have a storage capacity of 220.000 cubic metres. or roughly 90.000 tonnes. the paper said. without giving the total planned storage capacity at the site.

CNOOC. parent of CNOOC Ltd. is China’s largest operator of LNG import terminals.

CNOOC did not immediately respond to request for comment.