China National Offshore Oil Corp. (CNOOC) unit, CNOOC Gas & Power said it will begin construction of six liquefied natural gas (LNG) storage tanks at its Tianjin LNG terminal.
The expansion has been approved by the company’s committee on May 28, CNOOC said in a statement.
The decision comes following the 2017 winter when the demand for natural gas in northern China increased dramatically. CNOOC said the Tianjin terminal processed 2.08 million tons in 2017, an increase of 215 percent compared to the year before.
The demand for natural gas in the region is expected to stay high over the coming years, CNOOC said, adding that Tianjin could process 3.21 million tons in 2018. The company expects this figure to reach 7.25 million tons in 2030.
Under the Tianjin LNG LNG phase 2 project, CNOOC will build six storage tanks with 220,000 cubic meters capacity each, 12 gasification units and 12 high-pressure pumps and three low-temperature compressors and ancillary facilities, with a scheduled startup in 2022.
Once the new facilities are completed, Tianjin LNG terminal will have the capacity to handle 7.25 million tons per year.