HONG KONG, May 16 (Reuters) - A new liquefied natural gas terminal project has broken ground in Yantai, Shandong Province, China’s National Petroleum and Natural Gas Pipeline Network Group said in a statement Saturday.
The project is the first energy infrastructure project PipeChina has built since the company was set up in December last year.
The new project for receiving imported liquefied natural gas (LNG), jointly built with Nanshan Group, is designed to receive 20 million tonnes of LNG per year, with 20 gas-storage tanks each with capacity of 220,000 cubic meters, the company said.
Phase one of the project, running at 5 million tonnes, is expected to launch in 2023, it added.
Reporting by Muyu Xu and Pei Li. Editing by Gerry Doyle