May 15, 2024 [LNG Prime]- China’s Huaying Natural Gas and Sinopec are nearing the launch of their liquefied natural gas (LNG) import terminal in the port city of Chaozhou in the Guangdong province.
Privately-owned Huaying Natural Gas and China’s state-controlled energy giant Sinopec each own 50 percent in the LNG import terminal with a capacity of 6 mtpa.
According to a statement by Huaying Natural Gas, the LNG facility recently secured the port operation license from the provincial government for its jetty.
This marks the completion of all the construction tasks of the Huaying LNG terminal project, and lays a “solid foundation” for the arrival of the first commissioning cargo, the firm said.
The company did not say when it expects to receive the cargo.
According to Huaying Group’s website, construction on the facility started in December 2020 and the investment in the first phase of the project is estimated at about 8 billion yuan ($1.1 billion).
Besides the jetty and the breakwater, the facility features three 200,000 cbm LNG storage tanks.
Huaying looking for LNG supplies
BK LNG Solution said in a statement issued last month that it has joined forces with Singapore-based Huaying International Energy Trading, a unit of Huaying Natural Gas, to collaborate on securing LNG.
According to the statement, Huaying International is seeking “multiple” spot LNG cargoes and BKLS will “bring its LNG expertise” to collaborate with the company to close LNG deals.
China’s LNG imports rose 12.6 percent in 2023, and the country overtook Japan as the world’s largest LNG importer.
The country received about 71.32 million tonnes in the January-December period.
China’s LNG imports increased by 20.8 percent to 19.78 million tonnes in January-March this year.
In January, China’s LNG import terminals took 7.25 million tonnes of LNG, up by 22.9 percent year-on-year, while in February LNG imports rose 15.2 percent to 5.95 million tonnes.
In March, the country received 6.65 million tonnes of LNG, up by 25.1 percent year-on-year.
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