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Weihai, CNPC and SK cooperates on LNG project in China

Shandong Weihai Nanhai New District, China National Petroleum Corporation (CNPC) Shandong branch and South Korea’s SK Group have signed contract to invest in RMB10bn ($1.43bn) and jointly develop a LNG receiving station and gas-based cogeneration projects in Weihai.

According to the agreement, CNPC Shandong branch and South Korea’s SK Group will jointly develop and construct LNG receiving station, Weihai Nanhai New District, CNPC Shandong branch and SK Group will cooperate on the development of gas-based cogeneration project.

The LNG project is scheduled to start construction within this year and will be put into operation in 2022. The first phase capacity of the LNG project is expected to reach 3m tons.

“We are planning to develop a large-scale energy project at Nanhai Xingang to meet local industrial demands and promote energy transformation. The participation of SK will greatly support us on it,” said official from Nanhai New District.

Shandong has been developing the LNG receiving station project at major ports of Qingdao, Yantai, Rizhao, Longkou and Dongying to promote the LNG storage and transportation system for coastal regions.

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