Subsidiaries of PetroChina have signed contracts with Yantai Port Group to jointly develop a new LNG receiving terminal and expand a crude oil terminal at the port.
Kunlun Energy and Yantai Port Group will jointly invest a total of around $1bn to build an LNG receiving terminal with four 200,000 cbm LNG storage tanks and a dock capable of receiving 266,000 cbm LNG vessels.
Additionally, PetroChina Fuel Oil and Yantai Port Group will jointly invest around Yuan 5 billion to expand a crude oil terminal that is capable of berthing 300,000-dwt vessels, and crude storage tanks at the west Yantai port, and to build the phase 2 Yantai-Zibo, or Yanzi, crude oil pipeline in Shandong province.
For more information visit www.petrochina.com.cn
11th January 2019