On 5 July, Yanqiao Group and Beijing Energy Group Co., Ltd. signed a strategic cooperation agreement, under which they will invest 6.7 billion yuan (=USD 972 million) in the construction of an LNG terminal at Landbrige Port in Rizhao.
The move is part of the strategic agreement which seeks to establish a partnership based on green development and industrial synergy.
The total planned handling capacity of the terminal is 5 million tons of LNG annually.
This comes in line with Landbridge’s plans, announced last month, to list Landbridge Port, the largest private port in China, on a stock exchange.
In addition, the two sides also carry out in-depth cooperation in the development of overseas energy projects, the construction of industrial parks and international trade in oil and gas, while they aim to jointly promote the development and construction of projects along the “Belt and Road” to add new impetus to sustainable development of the regional economy.