Rising demand in China for liquefied natural gas (LNG) as a cleaner fuel has prompted PetroChina and Beijing Enterprises Group to expand the storage capacity at the Caofeidian LNG terminal in Northern China.
Citing an unnamed PetroChina source, Reuters reports that the companies will each build two storage tanks with a 160,000 cubic meters capacity, boosting the facility’s overall storage capacity to 1.28 million cubic meters.
The move comes as China decided to use gas as fuel for heating during the coming winter, resulting in a demand spike that could not be handled by the country’s existing infrastructure.
The four new storage tanks will make the Caofeidian terminal the largest in terms of storage capacity, among the three terminals owned by PetroChina.
It is expected that the construction of the four storage tanks will be completed by the end of 2019.
In addition to the storage capacity, PetroChina is looking to construct its fourth LNG terminal in Shenzen during 2018.
LNG World News Staff