CNOOC, Shenzen Energy Get LNG Terminal Nod

China National Offshore Corp (CNOOC) and Shenzhen Energy have obtained regulatory approval to build a 4m tonne/year liquefied natural gas (LNG) terminal at Shenzhen in Guangdong, Shenzhen Energy said on Friday.

Shenzen Energy will own 30 per cent in the $1.27 billion project while CNOOC will own the rest 70 per cent.

The project cost included constructing f four LNG tanks – each with a storage capacity of 160,000 cubic metres (cbm) – and a berth with an 80,000-266,000cbm capacity at terminal, the company said.

The terminal will receive LNG cargoes from overseas for distribution to industrial users, such as power plants.