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The China National Petroleum Corp (CNPC) says it is looking at starting a liquefied natural gas (LNG) project in the city of Fuqing, Fujian province, after a feasibility study was recently approved by a panel of experts, the Fuqing economic committee reported, on April 24.
The project, which is expected to cost 7.3 billion yuan ($1.18 billion) and cover a 40-hectare area in the nearby town of Donghan, would involve two 270,000-cubic-meter tanks and gasification facilities. Other support work would involve two wharves and a 20-kilometer pipeline.
The project is designed to help make the natural gas supply safer, according to an official in charge. It will also improve the province’s energy structure.
Construction work could start this year, and take three years to complete. The resulting facilities could produce revenues above 100 million yuan annually.