China’s CNOOC started construction of the country’s first floating LNG receiving terminal at Tianjin port on February 29, CNOOC Gas & Power said in a statement.
The project concerns the development of a floating storage and regasification unit (FSRU), first of its kind in the country.
The floating terminal will have a capacity to receive about 2.2 million mt per annum and it will cost 5.7 billion yuan ($904.73 million).
It is expected to start operation in 2013.
CNOOC Gas & Power also said that the second phase of the project includes a land-based LNG receiving terminal with an annual capacity of no less than 6 million tonnes which is expected to become operational around 2015.
[mappress] LNG World News Staff, March 2, 2012; Image: CNOOC Gas & Power