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Giants work on gas terminal
(China Daily)
Updated: 2005-04-30 08:40
Huaneng Group, one's of China's largest power producers, has joined forces
with Asia's largest oil refiner Sinopec to build a liquefied natural gas (LNG)
terminal and an auxiliary power plant in Qingdao, East China's Shandong
Province.
According to a letter of intent signed by the two State-owned giants on
Friday in Beijing, the terminal will import LNG from foreign countries and be
constructed by Sinopec. Huaneng will build a power plant to be fuelled by the
imported LNG.
As Sinopec's first LNG project, it has gained initial approval from the
country's top policy planner, the National Development and Reform Commission,
said Sinopec.
The oil company is still undertaking a feasibility study on the construction
of the project, which has a designed LNG handling capacity of 3 million tons per
year in the first phase to be finished by 2008, a vice-director surnamed Liu
from Sinopec's development planning department told China Daily.
The Qingdao natural gas-fired power plant, upon completion, will be Huaneng's
third and largest such power plant, with a designed installed capacity of 1.5
million kilowatts, a senior official from Huaneng told China
Daily.
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