Sinopec is to build a $2.8bn LNG terminal in Zhoushan, Zhejiang Province, China. It has signed a deal formalising the agreement with the provincial government.
The Chinese oil and gas major has said the terminal will be the third in Zhoushan in eastern China. It will have a receiving capacity of 15m t/y and the site will include two wharves, four 220,000 m3 gas storage tankers and ancillary facilities to transfer 7m t/y of gas.
The terminal will be constructed and operated in collaboration with a local government-backed company, and work is expected to begin in the first half of 2021, with operations beginning in 2024.
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