LNG

New JV plans to build LNG terminal in Jiangsu

Huagang Gas Group will form a joint venture to build an LNG terminal and storage facility at the port of Dafeng in eastern Jiangsu province.
By Staff reporter 13 March 2018 0 29980

Huagang Gas Group, a unit of China National Petroleum Corp., will form a joint venture to build an RMB 8.0 billion ($1.3 billion) LNG terminal and storage facility at the port of Dafeng in eastern Jiangsu province, JV partner Huifeng Petrochemical said in a stock exchange filing.

Huagang Gas will be the largest shareholder, with 45%, followed by Huifeng Petrochemical, on 35%. The first phase will require investment of RMB 6.0 billion.