The Asian Infrastructure Investment Bank (AIIB) recently informed that invested $500 million in order to aid in the establishment of a liquefied natural gas (LNG) terminal in Binhai District, Tianjin. Specifically,through the investment, AIIB will boost China’s efforts to transition to a lower-carbon energy future.
The LNG terminal is located in Tianjin and it would feature LNG receiving, storage, regasification processes and an unloading wharf, as the AIIB will further fund all the above-mentioned facilities to be constructed.
The project will support China’s efforts to fulfill its commitments under the Paris Agreement, and strengthen and contribute to the global response to the threat of climate change.
…said AIIB Vice President and Chief Investment Officer D.J. Pandian.
Furthermore, responsible for the project’s implementation will be the Beijing Gas Group Company Limited, as once completed it is planned to low the coal consumption by approximately 11.9 million tons per year, while reduce the related emissions such as CO2, SO2, NOx and particulate matters in China’s region in general.
It aligns well with AIIB’s commitment to sustainable energy for Asia and reducing the carbon intensity of energy supply.
… D.J. Pandian continued.
Except the construction of the LNG terminal with an annual handling capacity of 5 million tons of LNG , the “Beijing-Tianjin-Hebei Low Carbon Energy Transition and Air Quality Improvement” project icludes 10 LNG storage tanks with a volume of no less than 200,000 cubic meters each and a regasification facility with a maximum daily converting capacity of 60 million cubic meters of natural gas.
