According to Reuters, China’s Yantai Port Group is aiming to launch two LNG storage facilities by 2022, for which the group is expecting to receive government approval for the facilities this month.
Yantai Port holds a 19% stake in the project and is constructing the facilities along with Yantai LNG Group. One of the facilities will have a capacity of 5 million t, and the other 6.5 million t.
Phase 1 of the project is due to cost approximately US$1.1 billion, and will involves the construction of: the LNG-dedicated port area; an LNG berth capable of receiving LNG carriers with a capacity up to 266 000 m3; a 50 000 m3 trans-shipment berth; and five 200 000 m3 storage tanks. Officials have told Reuters that this facility will receive 5 million tpy of LNG and regasify 40 million m3/d.
Phase 2 of the project, scheduled to be launched by 2025, will involve the construction of two LNG berths capable of receiving LNG carriers with a capacity up to 266 000 m3, and five more 200 000 m3 storage tanks. This will expand Yantai LNG’s receiving capacity to 10 million tpy. (October 16, 2019)
CHINA - LNG - Storage