CNPC in massive boost for clean energy
China National Petroleum Corporation will build a liquefied natural gas storage complex on Hainan Island in southern China.
The largest integrated energy company in China said it plans to boost LNG sales in the coming years to support the government push for cleaner energy.
It plans to sell 11.5 billion cubic metres of LNG to domestic users by 2015 and will promote the use of LNG in at least 200,000 vehicles in the same year.
CNPC will invest US$134 million to build the Shennan LNG storage project. The complex will consist of 200,000 cubic metres of LNG storage tanks and a wharf with a receiving capacity of 10,000 to 20,000 cubic metres on LNG ships.
The first phase of the project, with a storage capacity of 40,000 cubic metres, is expected to be up and running by May 2013. The storage tanks will be used to store LNG from CNPC's two operating terminals in Rudong and Dalian as well as planned terminals in Tangshan and Shenzhen.