PetroChina Approved to Build $2.4 Billion LNG Terminal in Jiangsu Province
China's National Development and Reform Commission has approved PetroChina's $2.4 billion project to build an LNG terminal and pipelines in Jiangsu Province. The facility in Rudong is expected to handle 3 to 3.5 million metric tons of imported LNG annually, primarily supplying a nearby 2,400-megawatt gas-fired power plant via a 70-kilometer pipeline. This development positions PetroChina to compete more effectively with Sinopec Corp. and China National Offshore Oil Corp. in the LNG market.
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China's National Development and Reform Commission has approved PetroChina's plan to construct liquefied natural gas (LNG) pipelines and a terminal in Jiangsu Province. The $2.4 billion project will enable PetroChina to compete with Sinopec Corp. and China National Offshore Oil Corp. in developing LNG terminals along the coast. The terminal in Rudong is expected to handle 3 million to 3.5 million metric tons of imported LNG annually, primarily supplying a 2,400-megawatt gas-fired power plant through a 70-kilometer pipeline.
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