China National Offshore Oil Corporation (CNOOC) announced its plans to acquire an overall of 5.4 million cubic metres of storage tanks for liquefied natural gas, based on its goals on new reception terminals for the super-chilled fuel along the country’s east coast by 2022 to meet growing demand.
Specifically, the corporation is China’s largest investor in LNG Terminals and also the country’s most major LNG importer.
CNOOC is on the state of building new reception facilities in the northern province of Hebei, eastern provinces of Jiangsu, Fujian and Shandong, and expanding one existing facility at the northern port of Tianjin, according to a CNOOC presentation at the LNG 2019 conference taking place in Shanghai, Reuters reports.
However, for the time being, CNOOC hasn’t revealed its annual capacity for the its future terminals.
The firm announced its aims for expansion during March. This expansion will reach the corporation’s LNG terminals to 26.
Up to today, China who follows second as the world’s LNG buyer – with Japan being first – has under its operation 21 receiving terminals, with a yearly capacity of 67 million tonnes.
